It’s not been announced. But it’s a big promotion for the Wall Street Journal‘s Los Angeles bureau chief who rose through the ranks at the financial newspaper by covering the entertainment biz.wsjlogo.jpg Sometime after the first of the year Bruce Orwall will replace Emily Nelson, who it was already announced is rotating back to WSJ headquarters. Rupert Murdoch places a tremendous amount of emphasis on London. “These new owners are very globally oriented and London is a hugely important financial center,” an insider told me.