Dow Jones & Company, Inc. is a News Corp-owned American publishing company run by CEO Almar Latour. The Wall Street Journal, Barron’s, MarketWatch, Mansion Global, Financial News, and Private Equity News are all published by the firm. Previously, it issued the Dow Jones Industrial Average.
Dow Jones & Company Overview
Three reporters, Charles Dow, Edward Jones, and Charles Bergstresser, formed the firm in 1882. Charles Dow was well known for his ability to break down and convey to the general public what was often considered very convoluted financial information and news – this is one of the reasons why Dow Jones & Company is well known for their publications and transferring of important and sometimes difficult to understand financial information to people all over the world.
Nonetheless, Thomas F. Woodlock joined the three reporters in command of the organization. Following the death of co-founder Charles Dow, Dow Jones was purchased in 1902 by Clarence Barron, the premier financial writer of the day. Barron’s stepdaughters Jane and Martha Bancroft took over the firm after his death in 1928. Until 2007, when News Corporation acquired the corporation after a prolonged takeover fight, Dow Jones & Company was managed by the Bancroft family, who effectively held 64% of the voting shares.
The firm was later acquired by News Corporation. After a protracted period of uncertainty concerning shareholder consent, the deal was declared successful on August 1, 2007, with the transaction completed on December 13, 2007. It was valued at $5 billion, or $60 per share, and gave News Corp control of The Wall Street Journal, ending the Bancroft family’s 105-year ownership. The Dow Jones Industrial Average and associated market figures, Dow Jones Newswire, and a variety of financial magazines were Dow Jones & Company’s most well-known products.
The Dow Jones Indexes division was sold to the CME Group in 2010, and Dow Jones & Company shifted its emphasis to financial news publications, notably its flagship journal The Wall Street Journal, and financial news and information solutions for financial firms. Dow Jones CEO William Lewis announced his retirement in April 2020, following almost six years in the post. News Corp stated on May 7, 2020, that Almar Latour will take over as CEO on May 15, 2020.
Consumer media products for Dow Jones & Company
The Wall Street Journal, its flagship publication, is a daily newspaper in print and online that covers commercial, financial, national, and international news and topics from around the world. It first appeared on July 8, 1889. The Journal is available in 12 languages, including English, Chinese, Japanese, German, Spanish, Portuguese, Bahasa, Turkish, and Korean. The Journal is the recipient of 35 Pulitzer Prizes for excellent journalism.
Dow Jones also publishes Barron’s Magazine, a monthly survey of the global economy and markets, MarketWatch, an online financial news site, and Investor’s Business Daily, a newspaper and website covering the stock market, international business, finance, and economics. Financial News covers investment banking, securities, and asset management news. BigCharts is a service given by MarketWatch’s Virtual Stock Exchange Games that contain stock charts, screeners, interactive charting, and research tools.
Professor Journal is a “Journal” in educational software that instructors may use to supplement their curriculum. Dow Jones established Moneyish, a lifestyle and personal finance website geared toward millennial users, in 2017. Dow Jones also ran Heat Street, a February 2016 online news and commentary website that was ultimately integrated into MarketWatch. Far Eastern Economic Review, a monthly magazine, ceased publication in September 2009.
Business media for Dow Jones & Company
Dow Jones provides financial news and information products and services to business and financial markets customers. Dow Jones has over 20 products that integrate information and technology to aid decision-making, including. Dow Jones Newswires; Dow Jones, a database that offers a curated foundation for making judgments about businesses, issues, and individuals via search results, alerts, newsletters, and charts, Dow Jones FX Select, in 13 languages, provides real-time, breaking global FX news, professional trend analysis, and in-depth policy commentary.
Dow Jones VentureSource offers data on venture-backed firms to assist in the identification of transaction and partnership prospects, the performance of complete due diligence, and the examination of trends in venture capital investment, fund-raising, and liquidity. Private Equity Analyst, provides insight and breaking news on events in fund-raising, investment, transaction financing, liquidity, returns, and CEO movements; Dow Jones Risk & Compliance provides material on risk management, regulatory compliance, and corporate governance for Anti-Corruption, Anti-Money Laundering, and Payments and Sanctions.
Dow Jones Newswires, Inc.
Dow Jones Newswires, established in 1882, is a real-time financial news agency. Its main rivals are Bloomberg L.P. and Thomson Reuters. As of July 2011, the firm had over 600,000 members, which included brokers, dealers, analysts, global leaders, financial authorities, and fund managers.
Ventures of Dow Jones & Company
Dow Jones Ventures created FINS.com in 2009 as a standalone resource for financial professionals including information on finance jobs and the finance sector.
Broadcasting of Dow Jones & Company
Dow Jones offers news information to CNBC in the United States. The Wall Street Journal Report on the Wall Street Journal Radio Network and The Dow Jones Report were created for commercial radio. The network was decommissioned in 2014. Dow Jones also introduced WSJ Live, an interactive video service that offers live and on-demand content from The Wall Street Journal Video Network. Among the programs are “News Hub,” “MoneyBeat,” and “Lunch Break,” among others. WSJ Live was decommissioned in 2017.
Indices of Dow Jones & Company
Dow Jones sold a 90% ownership in its Index business to Chicago-based CME Group, which runs the Chicago Mercantile Exchange, for $607.5 million in February 2010. Among the most often utilized are:
- Dow Jones Industrial Index (DJIA, “Dow 30”, or often simply “The Dow”)
- Dow Jones Transportation Index
- Dow Jones Utility Index
- Dow Jones Industrial Average
- The Dow Jones Global Index
- Dow Jones Global Titans 50 Index (DJGT50)
- Dow Jones Industrial Average Total Stock Market Index
- Indexes of Dow Jones Sustainability
- Commodity Indexes from Dow Jones and UBS
- Target Date Indices Dow Jones
USA NewsPicks for Dow Jones & Company
Dow Jones and NewsPicks Inc., a Japanese company that develops and maintains the same-named business news platform, formed a joint venture called NewsPicks USA, LLC in March 2017.n The joint venture is led by CEO Ken Breen, who is now the Dow Jones Media Group’s Senior Vice President, Commercials, and Chairman Yusuke Umeda, who is also a Director of NewsPicks Inc. On November 13, 2017, the joint venture launched the English version of the NewsPicks platform for the US market.
The US version of NewsPicks, like the original Japanese edition, mixes business news from sources such as The Wall Street Journal, Bloomberg, and Reuters with social networking elements such as comments on news items from top-ranked business experts from across the globe (“ProPickers”). The platform presently has an iPhone app, with intentions to create an Android version in the future.
Ownership of Dow Jones & Company
Charles Dow, Edward Jones, and Charles Bergstresser established the Dow Jones & Company’s basis by conceiving and promoting the three products that characterize Dow Jones and financial journalism during a two-decade period: The Wall Street Journal, Dow Jones Newswires, and the Dow Jones Industrial Average. Clarence Barron, the preeminent financial writer of the day, purchased Dow Jones in 1902. Dow Jones was bought by News Corp.
A significant worldwide media firm, in 2007. Prior to its sale to News Corp., the Bancroft family and the heirs of Clarence W. Barron essentially controlled the company’s class B shares, each having the voting power of ten ordinary shares. They once held 64% of Dow Jones voting stock. Dow Jones is now controlled by Rupert Murdoch, the owner of News Corp and numerous other significant media firms.
Purchase offer for Dow Jones & Company
Dow Jones issued a statement on May 1, 2007, revealing that News Corporation, directed by Rupert Murdoch, had made an unsolicited offer of $60 per share, or $5 billion, for Dow Jones. The stock was temporarily stopped due to planned press announcements. The stoppage lasted less than ten minutes as CNBC received data. The takeover bid has been linked to Murdoch’s new cable business news channel Fox Business, which debuted in 2007.
The Dow Jones brand instantly lends legitimacy to the idea. On June 6, 2007, CEO Brian Tierney of Philadelphia Media Holdings L.L.C., owner of The Philadelphia Inquirer, Philadelphia Daily News, and Philly.com, expressed interest in “working with outside partners to purchase Dow Jones” in an article on Philly.com. Tierney stated: “Along with other investors, we would participate as Philadelphia Media Holdings. We wouldn’t do it on our own.” In June, MySpace co-founder Brad Greenspan proposed buying 25% of Dow Jones for $60 per share, the same amount as News Corporation’s proposal. Greenspan’s bid was $1.25 billion for a 25% stake in the firm.
The Wall Street Journal, a Dow Jones subsidiary, reported on July 17, 2007, that Dow Jones & Company and News Corporation had reached an agreement in principle on a US$5 billion takeover, that the offer would be presented to the full Dow Jones board that evening in New York, and that the offer valued the company at 70% more than its market value. Our plan is on maintaining Dow Jones’ print publications as the gold standard of financial reporting and generates new revenue streams via digital media projects that potentially result in a stock price over $100 per share.
For far too long, Dow Jones has restricted its concentration to print media, allowing other, less established businesses to reap millions of dollars by building financial reporting franchises on the Internet and cable television. Dow Jones must awaken from its sleep and expand its domination into the lucrative field of digital media.
Scam of insider trading of Dow Jones & Company
The SEC accused board member Sir David Li, one of Hong Kong’s most renowned businesspeople, of informing his personal friend and business partner Michael Leung about the planned offer while examining anomalous share price movements in the run-up to the announcement. Leung took advantage of this knowledge by informing his daughter and son-in-law, who profited $8.2 million from the insider trading deal.
Corporate management of Dow Jones & Company
Prior to the Dow Jones & Company’s sale to News Corp, the following directors served on its board of directors: 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.