The company announced Thursday that Dow Jones will operate the financial news and research business
Photo: News Corp/Investor’s Business Daily
News Corp announced Thursday it will be acquiring Investor’s Business Daily from O’Neil Capital Management for $275 million. The deal is designed to bolster News Corp’s new digital product focus.
The financial news and research business will be operated by News Corp subsidiary Dow Jones.
According to a News Corp release, the affiliated site, Investors.com, has seen double-digit revenue growth in recent years. More than 90% of Investor’s Business Daily revenue and subscriptions is digital, which News Corp attributes to the company’s online investor tools, research and analysis products. Overall, there are almost 100,000 digital subscribers across IBD’s platforms, but, News Corp says, there is “minimal overlap with Dow Jones’s existing subscriber base.”
Citing Adobe Analytics, News Corp’s release also mentioned that in February 2021, Investors.com reached an average audience of 10.8 million unique people. Beyond the website, IBD also publishes a weekly print edition.
“IBD will greatly enhance our e-expertise in finance, with compelling digital coverage, unique tools and high-yielding services. We will be able to cross-sell and up-sell with Dow Jones financial products and provide specialist insights for a knowing business audience,” said News Corp CEO Robert Thomson in a Thursday statement.
He went on, “Dow Jones and the Wall Street Journal reported record profits in the last quarter and I have no doubt that IBD’s savvy digital products and journalism will significantly bolster profitability at the Dow Jones segment. This transformative deal obviously comes as investor interest is surging in stock and bond markets and there is a premium for intelligence, insight and integrity.”
Dow Jones CEO Almar Latour added, “The prospect of combining our collective skills and strengths, especially our shared legacies of trusted, rigorous journalism and research, opens up a wide range of potential. It creates exciting possibilities to grow quality at scale, diversify our tailored digital offerings and forge even deeper connections with the professional and retail investment communities.”
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