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.
Hey wannabe poets who are too lazy to actually write anything down or think of a decent rhyme for zenith*, I have the perfect online tool for you…
How can digital banking teams offer mobile banking services that exceed customer needs and expectations? This was a key theme addressed by researchers of Forrester's 2016 Global Mobile Banking Functionality Benchmark report.
Twitter has announced it will now let any of its users apply for the much sought after blue badge of verification.
That didn’t take long. With usage soaring and brands jumping to capitalize on the popularity of Pokémon Go, the CEO of Niantic, the company ... read more