add site
services
publishers
database
health videos
toolbar
stats
live show
health store
more stuff
JOIN/LOGIN
| advertise add site services publishers database health videos
| | about toolbar stats live show health store more stuff JOIN/LOGIN |
sites, mutual funds, market watch, Dow Jones,... globalrph.com | - Novo Nordisk... novonordisk.com | Yoga-Flow / Christina Jones - Contact Yoga-Flow / Christina Jones yoga-flow.com |
"Dow Jones" redirects here. For the stock market index, see Dow Jones Industrial Average. For the 1970s punk band, see Dow Jones and the Industrials.
Dow Jones & Company 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 was in recent years publicly traded but privately controlled. The company was led by the Bancroft family, which effectively controlled 64% of all voting stock, before being acquired by News Corporation. The company became a subsidiary of News Corporation after an extended takeover bid during 2007. [2] It was reported on August 1, 2007 that the bid had been successful[3][4] after an extended period of uncertainty about shareholder agreement[5]. The transaction was completed on December 13, 2007. It was 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[6]
[edit] Consumer mediaIts flagship publication, The Wall Street Journal, is a daily newspaper in print and online covering business, financial national and international news and issues around the globe. It began publishing on July 8, 1889. Other editions of the Journal include:
Other consumer-oriented publications of Dow Jones include Barron's Magazine, a weekly overview of the world economy and markets; MarketWatch.com, the online financial news site; the monthly journal Far Eastern Economic Review; and the consumer magazine SmartMoney in conjunction with the Hearst Corporation. [edit] Local mediaDow Jones also owns Ottaway Newspapers, Inc., which publishes several community newspapers in the U.S. [edit] Enterprise mediaThe Dow Jones Enterprise Media Group provides financial news and information primarily to business customers. Its products combine content and technology tools to help drive decisions. Major brands include Dow Jones Newswires, Dow Jones Factiva, Dow Jones Indexes, Dow Jones Client Solutions and Dow Jones Financial Information Services. [edit] BroadcastingIn broadcasting, Dow Jones provides news content to CNBC in the U.S. It produces two shows for commercial radio, The Wall Street Journal Report on the Wall Street Journal Radio Network and The Dow Jones Report. [edit] IndicesThe company calculates thousands of market indices. A few of the most widely used include:
[edit] OwnershipThe Bancroft family and heirs of Clarence W. Barron once effectively controlled the company class B shares, each with a voting power of ten regular shares, prior to its sale to News Corp. At one time, they controlled 64% of Dow Jones voting stock.[7] [edit] Buyout offerOn 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.[8] 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 new cable business news channel Fox Business that launched in 2007. The Dow Jones brand brings instant credibility to the project.[9] 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." [10] 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 bid. Greenspan's offer was for $1.25 billion for 25% of the company.[11] 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 takeover 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.[12]
[edit] Insider trading scandalUpon investigating suspicious share price movements in the run-up to the announcement, the SEC alleged that board member Sir David Li, one of Hong Kong's most prominent businessmen, had informed his close friend and business associate Michael Leung of the impending offer. Leung had acted on this information by telling his daughter and son-in-law, who reaped a US$8.2 million profit from the transaction.[13] [edit] Corporate governancePrior to its sale to News Corp, the last members of the board of directors of the company were: Christopher Bancroft, Lewis B. Campbell, Michael Elefante, John Engler, Harvey Golub, Leslie Hill, Irvine Hockaday, Peter Kann, David Li, M. Peter McPherson (Chairman), Frank Newman, James Ottaway, Elizabeth Steele, and William Steere. [edit] References
[edit] See also
[edit] External links
| |||||||||||||||||||||||||||
| ↑ top of page ↑ | about thumbshots |
