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Information about Dow Jones & Company

Dow Jones & Company Inc.
Public (NYSE: DJ)
Founded15 Wall Street, New York (1882)
FounderCharles Dow, Edward Jones, Charles Bergstresser
HeadquartersNew York City
Key peopleRichard F. Zannino, CEO
IndustryNews and Publishing
ProductsWall Street Journal
Barron's Magazine
Dow Jones Newswires
Dow Jones Indexes
Dow Jones Financial Information Services
Factiva
Far Eastern Economic Review
MarketWatch.com
SmartMoney
Vedomosti
(See complete products listing.)
Revenue$1.783 Billion USD (2006)
Net income$386.56 Million USD (2006)
Employees7,143 (2004)
Websitewww.dowjones.com


"Dow Jones" redirects here. For the stock market index, see Dow Jones Industrial Average.


Dow Jones & Company (NYSE: DJ) is an American publishing and financial information firm.

The company was founded in 1882 by three reporters: Charles Dow, Edward Jones, and Charles Bergstresser. Like The New York Times and the Washington Post, the company is publicly traded but privately controlled. The company is led by the Bancroft family, which effectively controls 64% of all voting stock.

The Company is currently the target of a bid by News Corporation. It was reported on the 1st of August 2007 that the bid has been successful[1][2] after an extended period of uncertainty about shareholder agreement[3]. The deal is, in fact, not yet complete but a definitive agreement with the company and certain Bancroft family shareholders has been reached and the transaction is expected to be completed in the fourth quarter of 2007. It is worth US$5 billion or $60 a share, giving NewsCorp control of The Wall Street Journal and ending the Bancroft family's 105 years of ownership[4]

Print Publishing

Its flagship publication, The Wall Street Journal, is a daily newspaper covering U.S. and international business and financial news and issues. It began publishing on July 8, 1889. Other versions of the Journal include: Sister publications of the Journal include Barron's Magazine, a weekly overview of the world economy and markets; the monthly journal Far Eastern Economic Review; and the consumer magazine SmartMoney in conjunction with the Hearst Corporation.

Dow Jones also owns Ottaway Newspapers, Inc., which publishes several community newspapers in the U.S.

Electronic Publishing

Dow Jones Electronic Publishing hosts several websites. In addition to online editions of its publications, the company operates the career advancement-oriented CareerJournal.com and CollegeJournal.com; OpinionJournal.com, with featured content from the Wall Street Journal's politically conservative editorial pages; business portals StartupJournal.com and RealEstateJournal.com; and Factiva, a news and business information service, which it jointly owned with Reuters until agreeing in October 2006 to buy out the British company's 50% stake.

In January of 2005, Dow Jones purchased MarketWatch in a transaction valued at $528 million. MarketWatch is a popular financial website among retail investors, and Dow Jones purportedly coveted its successful business-to-consumer advertising base to augment its reliance on business-to-business advertising and subscription-based business models.

Dow Jones also owns Dow Jones Newswires, which is a news wire and competes with Reuters and Bloomberg News.

Dow Jones also owns Dow Jones Financial Information Services, which is a leading provider of news, information and events on specialized financial markets and industry sectors including private equity, venture capital, bankruptcy & debt, energy & commodities, foreign trade and other areas.

In 2007, Dow Jones and IAC/InterActiveCorp joined forces and established a personal finance website FiLife.com, which will use content from Dow Jones properties the Wall Street Journal and MarketWatch.[5]

Broadcasting

In broadcasting, Dow Jones provides news content to CNBC in the U.S. It produces two shows for commercial radio, The Wall Street Journal Report and The Dow Jones Money Report.

Indexes

The company is also responsible for several widely used stock market indices, among them:

Ownership

The Bancroft family and heirs of Clarence W. Barron, effectively controls the company class B shares, each with a voting power of 10 regular shares. They effectively control 64% of Dow Jones voting stock.[6]

Buyout offer

On May 1, 2007, Dow Jones released a statement confirming that News Corporation, led by Rupert Murdoch, had made an unsolicited offer of $60 per share, or $5 billion, for Dow Jones.[7] Stock was briefly halted for pending press release. The halt lasted under 10 minutes while CNBC was receiving data.

It has been suggested that the buyout offer is related to Murdoch's planned cable business news channel that will launch in 2007. The Dow Jones brand would bring instant credibility to the project.[8]

On June 6, 2007, CEO Brian Tierney of Philadelphia Media Holdings L.L.C., owning company of The Philadelphia Inquirer, Philadelphia Daily News, and Philly.com, went public in an article on Philly.com expressing interest in "joining with outside partners to buy Dow Jones." Tierney said, "We would participate as Philadelphia Media Holdings, along with other investors. We wouldn't do it alone." [9]

In June MySpace founder Brad Greenspan put forth a bid to buy 25% of the Dow for $60 a share, the same price per share as News Corporation's. Greenspans offer is for $1.25 billion for 25% of the company.[10]

On July 17, 2007 The Wall Street Journal, a unit of Dow Jones reported that the company and News Corporation have agreed in principle on a US$5 billion take over and that the offer will be put to the full Dow Jones board on the same evening in New York. The offer values the company at 70% more than the company's market value.[11]

On July 21, 2007, Channel News Asia reports Internet tycoon and MySpace.com founder Brad Greenspan offers new plan for Dow Jones to foil Murdoch's offer of the US$5 billion Dow Jones buyout.

The Internet entrepreneur who last month bid for a stake in Dow Jones & Co. on Friday made a new offer aimed at helping controlling family shareholders find an alternative to an offer from Rupert Murdoch's News Corp.

The latest announcement from Brad Greenspan, the founder of the MySpace social network website, came after Dow Jones’ board members accepted Murdoch's five-billion-dollar bid that was to be debated by the Bancroft family, which controls a majority voting stake.

Greenspan's revised offer calls for his investment group to provide a loan of between 400 million and 600 million dollars to Bancroft family members "to buy out liquidity-seeking family members" at 60 dollars per share -- matching the Murdoch offer.

This would allow the family to retain control. Greenspan's group "would receive the rights to all value created in the stock above 60 dollars per share."

The plan also calls for a recapitalization of the company by issuing debt and expanding into a number of online ventures to benefit from the brand name of Dow Jones and its key asset, The Wall Street Journal.

Corporate Governance

Current members of the board of directors of the company are: Christopher Bancroft, Lewis B. Campbell, Michael Elefante, John Engler, Harvey Golub, Leslie Hill, Irvine Hockaday, Peter Kann (Chairman), David Li, Peter McPherson, Frank Newman, James Ottaway, Elizabeth Steele, and William Steere.

References

See also

External links

 •  • [ e]
Dow Jones & Company (sale pending to News Corp.)
Corporate directors:Christopher Bancroft • Lewis B. Campbell • Michael Elefante • John Engler • Harvey Golub • Leslie Hill • Irvine Hockaday • Peter Kann (Chairman) • David Li • Peter McPherson • Frank Newman • James Ottaway • Elizabeth Steele • William Steere
Financial news:Barron's • Far Eastern Economic Review • SmartMoney • The Wall Street Journal • The Wall Street Journal Asia • The Wall Street Journal Europe • Vedomosti • Factiva • Dow Jones Newswires
Ottaway Community
Newspapers:		Ashland Daily Tidings • The Barnstable Patriot • Cape Cod Times • The Inquirer and Mirror • Mail Tribune • Pocono Record • The Portsmouth Herald • The Record • The Standard-Times • Times Herald-Record • Hathaway Publishing • Seacoast Media Group
Stock market indices:Dow Jones Composite Average • Dow Jones Global Titans • Dow Jones Industrial Average (DJIA) • Dow Jones Transportation Average • Dow Jones Utility Average • Dow Jones U.S. Large Cap Growth • Dow Jones U.S. Large Cap Value • Dow Jones U.S. Small Cap Growth • Dow Jones U.S. Small Cap Value • Dow Jones Wilshire 5000 Total Market Index • Dow Jones Sustainability Index • Dow Jones Hedge Fund Indexes
Annual Revenue: $1.783 Billion USD (2006) (2.1% FY 2006) • Employees: 7,143 • Stock Symbol: NYSE: DJ • Website: www.dowjones.com
A public company usually refers to a company that is permitted to offer its securities (stock, bonds, etc.) for sale to the general public, typically through a stock exchange.
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New York Stock Exchange (NYSE), nicknamed the "Big Board", is a New York City-based stock exchange. It is the largest stock exchange in the world by dollar volume and, with 2,764 listed securities[1], has the second most securities of all stock exchanges.
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State of New York

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Largest city New York City

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An entrepreneur (a loanword from French introduced and first defined by the Irish economist Richard Cantillon) is a person who operates a new enterprise or venture and assumes some accountability for the inherent risks.
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Charles Henry Dow (November 6, 1851 – December 4, 1902) was an American journalist who co-founded Dow Jones & Company with Edward Jones and Charles Bergstresser. Dow also founded The Wall Street Journal
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Edward David Jones (1856–1920) was a U.S. statistician. A graduate of Worcester Academy in Worcester, MA, he was the co-developer and co-eponym of the Dow-Jones index with Charles Dow and Charles Bergstresser.
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Charles Bergstresser was an American journalist and, with Charles Dow and Edward Jones, one of the founders of Dow Jones & Company at 15 Wall Street in 1882.
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Publishing is the process of production and dissemination of literature or information – the activity of making information available for public view. In some cases, authors may be their own publishers.
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Type Daily newspaper
Format Broadsheet

Owner Dow Jones & Company
(Sale Pending to News Corp.)
Publisher L. Gordon Crovitz
Editor Marcus Brauchli
Founded July 8, 1889
Language English
Headquarters 200 Liberty Street
New York, NY 10281
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Barron's magazine is an American weekly newspaper covering U.S. financial information, market developments, and relevant statistics. Each issue provides a wrap-up of the previous week's market activity, news reports, and an outlook on the week to come.
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Dow Jones Newswires is the real-time financial news organization owned by Dow Jones. Founded in 1882, its primary competitors are Bloomberg L.P. and Reuters. The company reports more than 420,000 subscribers -- including brokers, traders, analysts and fund managers -- as of July
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Factiva is a division of Dow Jones & Company. The unit provides business and research information and services for the business and education communities. Factiva products provide access to more than 10,000 sources (such as newspapers, journals, magazines, news and radio
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The Far Eastern Economic Review (Traditional Chinese: 遠東經濟評論, Pinyin: Yuǎndōng Jīngjì Pínglùn; also referred to as FEER) is an English language Asian news magazine.
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SmartMoney The Wall Street Journal Magazine of Personal Business was launched in 1992 by Hearst Corporation and Dow Jones & Company. Its first editor was Norman Pearlstine. It is published monthly and its current circulation is 824,327.
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Vedomosti (Russian: Ведомости, literally "The Record") is a Russian language business daily. It is a joint venture between Dow Jones, the Financial Times and Independent Media (Publishing House), publishers of The Moscow
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Dow Jones is mainly a publishing company.
  • In the Publishing industry:
  • The Wall Street Journal
  • Barron's Magazine

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Revenue is a business term for the amount of money that a company receives from its activities in a given period, mostly from sales of products and/or services to customers.
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Net income is equal to the income that a firm has after subtracting costs and expenses from the total revenue. Net income can be distributed among holders of common stock as a dividend or held by the firm as retained earnings.
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News by month
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2004 by topic:
News by month
Jan - Feb - Mar - Apr - May - Jun
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