The business publisher agrees to buy MarketWatch for $463 million.
Dow Jones & Company agreed to buy business and financial publisher MarketWatch for $463 million, or $18 per share. The company has $59 million cash on hand, making the total value of the deal $519 million.
The sale follows a month-long bidding process between several big media companies, including The New York Times Company, Viacom and Yahoo, according to reports.
MarketWatch operates CBS.MarketWatch and BigCharts.com. The company's chairman and chief executive, Larry Kramer, expressed enthusiasm at the prospect of linking up with the legendary business publishing brand.
"Joining Dow Jones is a great next step for MarketWatch," he said. "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."
UBS Investment Bank is acting as financial advisor to MarketWatch on the transaction, expected to close in Q1 2005. Shares of MarketWatch were up 6.6 percent Monday morning.
Want to learn more? Join us at ClickZ Live New York 2015
[ALERT] Super Saver Rates Expire January 30. With over 15 years of experience delivering industry leading events, ClickZ Live brings together over 50 expert speakers to deliver an action-packed, educationally-focused agenda covering all aspects of digital marketing. Quick! - Register today to secure your place at the best rate.
Until March 2012, Zach Rodgers was managing editor of ClickZ's award-winning coverage of news and trends in digital marketing. He reported on the rise of web companies, data markets, ad technologies, and government Internet policy, among other subjects.
Singapore, 5-6 March
Bangkok, 17-18 March
Hong Kong, April 2015
Google My Business Listings Demystified
To help brands control how they appear online, Google has developed a new offering: Google My Business Locations. This whitepaper helps marketers understand how to use this powerful new tool.
5 Ways to Personalize Beyond the Subject Line
82 percent of shoppers say they would buy more items from a brand if the emails they sent were more personalized. This white paper offer five tactics that will personalize your email beyond the subject line and drive real business growth.
January 29, 2015
1:00pm ET/10:00am PT