Dow Jones to buy MarketWatch
In order to gain a competitive edge in the internet content and advertising market, Dow Jones has decided to buyout MarketWatch. The deal would cost the company USD18 for a share with the complete figure hovering around USD519 million!
This deal ends a month long bidding war, which saw Viacom, The New York Times Co., and Yahoo Inc. trying to outbid each other. It however would require to be approved from the shareholders and if it happens, Dow Jones could get a major boost in the internet marketing business.
MarketWatch was founded in 1997 and runs 2 websites (CBS.MarketWatch.com and BigCharts.com) and some syndicated programs on CBS. CEO of the company Larry Kramer told media:
“Joining Dow Jones is a great next step for MarketWatch. Being part of one of the most respected media conglomerates in the world gives us a terrific platform to grow our business and compete with the largest media companies.”
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