It wasn't hard to see this one coming. Dow Jones has decided to combine its print and online operations in a restructuring of the company. Where it used to be divided in print publishing, electronic publishing and community newspapers, now Dow Jones will be split between consumer media, enterprise media, and community media.

The German finanzen.net reports that this move, by reducing layers of managers, "streamlining management processes, and decentralizing a number of corporate functions, will make the company more efficient and accountable.

The consumer media division will not only combine WSJ print and online desks but will roll Barrons, MarketWatch and the magazine SmartMoney into the mix as well.

This is hardly surprising. The print edition is currently undergoing a redesign whose articles will encourage the reader to search for more information online, according to a recent St. Petersburg Times' article. Mario Garcia, the chief redesigner, also revamped WSJ's European and Asian editions to compact sized papers with a shadowed "WSJ.com" in their banner.

The acquisition of MarketWatch contributed significantly to Dow Jones revenues which jumped over 24 million dollars in the third quarter of last year. The online package of WSJ.com and Barrons was recently separated although a discounted price is still offered for those who want to add one of the publications to a subscription.

And perhaps most importantly, WSJ.com, if included in American Audit Bureau of Circulation figures, would be the fifth largest paper in the country.

Source: finanzen.net, Yahoo!Finance, St. Petersburg Times

ps. A New York Times article quotes L. Gordon Crovitz who was just appointed publisher of the Wall Street Journal and president of the Consumer Media Group (formerly president of the company's online division) as writing in a memo, "The Internet will not mean the end of the print medium. But as people have many more choices about how, when and where they get their news, established media such as newspapers must adapt; we will be the first to adapt by developing a newspaper for this digital age."