Dow Jones & Company
| Dow Jones & Company
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| legal form | Subsidiary of News Corp. |
| founding | 1882 |
| Seat | new York |
| management | William Lewis (CEO) |
| Number of employees | 7400 (2006) |
| sales | $ 1.78 billion (2006) |
| Branch | Publishing, media, news agency, finance |
| Website | www.dowjones.com |
Dow Jones & Company is an American publishing house and has been a subsidiary of News Corp. since 2007 . The company is based in New York .
In Europe, Dow Jones is mainly known for the Dow Jones Industrial Average share index , which is now majority owned by McGraw-Hill Financial . The publishing house was founded in 1882 by three journalists: Charles Dow , Edward Jones and Charles Bergstresser.
Business areas
The Dow Jones Consumer Media Group is the publisher of the Wall Street Journal , Barrons , Market Watch and Far Eastern Economic Review . The Dow Jones Enterprise Media Group comprises Dow Jones Newswires, Factiva , Dow Jones Client Solutions, Dow Jones Indexes and Dow Jones Financial Information Services. The Dow Jones Local Media Group publishes 8 regional daily newspapers and 14 weekly regional newspapers in the USA. Dow Jones also provides content for CNBC and radio stations in the US.
The Dow Jones Indexes were incorporated into the joint venture Dow Jones Indexes with the CME Group . Dow Jones & Company holds 10% of this company.
Dow Jones in Germany
The Dow Jones News GmbH was founded in early 2004, leading the previously of United vwd business services GmbH continues powered media and publishing business. The company is wholly owned by Dow Jones & Company. In Germany, Dow Jones is best known as a news agency and for its strong position as a specialist news service provider in the commodities and energy sectors. The best-known products here include Dow Jones Steel Monitor and Dow Jones TradeNews Energy. Most of the company's foreign trade publications , in addition to the daily newspaper Nachrichten für Außenhandel, two business magazines and other regional and industry-focused information services, were sold to MBM Martin Brückner Medien GmbH on April 1, 2009 , which cooperates with Dow Jones News GmbH. In January 2012, the German-language digital edition of the Wall Street Journal (WSJ.de) went online with a freemium business model. On November 12, 2014 it was announced that the German-language edition of the Wall Street Journal will be discontinued at the end of the year. The closure affected up to 10 editorial staff within Germany.
Acquired by News Corporation
On May 2, 2007, media entrepreneur Rupert Murdoch and his News Corporation , which he led , made a takeover offer to the publishing house Dow Jones & Co. amounting to around five billion dollars (3.6 billion euros) or 60 dollars per share. The owner family Bancroft controlled 64 percent of the voting rights in Dow Jones and examined Murdoch's offer. There were strong reservations within the family about Murdoch, as he had a reputation for using his papers in political campaigns. Resistance to Murdoch's offer, however, was mixed and indecisive. The Wall Street Journal workforce was disappointed with the indecision of the Bancrofts, with many journalists wanting to forestall a feared mass layoff and start their own business or switch.
The German publisher Georg-Dieter von Holtzbrinck withdrew from the Board of Directors of Dow Jones & Co. in July 2007 in protest against Murdoch's takeover offer .
The Californian Internet entrepreneur Brad Greenspan , who, as the former ten percent owner of MySpace, had already unsuccessfully fought against Murdoch's takeover, proposed an alternative plan to the Bancrofts in mid-2007: Those members of the Bancroft family who did not want to sell should give him a loan raise from $ 400 to $ 600 million; with that they could take over the shares of the family members willing to sell. Subsequently, the previously paid online edition of the Wall Street Journal is to be converted into a largely free “social networking site” with a lot of video content. However, this offer only serves as an accompanying measure for the establishment of one's own financial television broadcaster. Greenspan expected the Wall Street Journal to be a global leader in financial news, both online and via cable, in the short term.
On August 1, 2007, the Bancroft family finally accepted an upgraded offer from Murdoch. The takeover of the publishing house by the News Corporation was completed on December 13, 2007 with the payment of a total of 5.6 billion US dollars, with editorial independence guaranteed. This ended the 105-year control of the Bancroft family over the publishing house Dow Jones & Co., in which they had held the majority of the shares since 1902.
Web links
- Dow Jones & Company (USA)
Individual evidence
- ↑ US stock exchange operator CME takes over 90% of the index business from Dow Jones. Dow Jones & Company as of February 11, 2010, archived from the original on February 15, 2010 ; accessed on May 26, 2016 .
- ↑ Murdoch reaches an agreement with Dow Jones. In: Frankfurter Allgemeine Zeitung . July 17, 2007, accessed May 26, 2016 .
- ↑ Rupert Murdoch reaches for the "Wall Street Journal". In: Frankfurter Allgemeine Zeitung. May 2, 2007, accessed May 26, 2016 .
- ↑ Marc Pitzke: Murdoch puts the bubbly cold. In: Spiegel Online . July 18, 2007, accessed May 26, 2016 .
- ↑ At The Gates. Murdoch's Arrival Worries Journal Employees. In: The New York Times . July 15, 2007, accessed May 26, 2016 .
- ^ Protest against the takeover. Holtzbrinck is leaving Dow Jones' Board of Directors. In: Handelsblatt . July 20, 2007, accessed May 26, 2016 .
- ↑ An alternative solution for Dow Jones. In: Neue Zürcher Zeitung . July 22, 2007, accessed May 26, 2016 .
- ↑ Murdoch is allowed to buy Dow Jones. In: Süddeutsche Zeitung . August 1, 2007, accessed May 26, 2016 .
- ^ Andrew Ross Sorkin, Richard Pérez-Peña: Dow Jones Says It Will Consider Options for Sale. In: The New York Times. June 1, 2007, accessed May 26, 2016 .