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Dow Jones Acquires Financial News Site MarketWatch for $519 Million

Authored by Mark Hefflinger on November 15, 2004 - 5:30am.
New York -- Dow Jones, which publishes The Wall Street Journal, announced on Monday that it has acquired San Francisco-based MarketWatch, a provider of business news and financial information, for $519 million. The deal calls for MarketWatch shareholders to receive $18 per share, a premium of about 7.2% over the company's closing share price on Friday. Other interested bidders for MarketWatch reportedly included Viacom, Yahoo and The New York Times. "By combining Dow Jones' legendary brands, infrastructure and valuable strategic alliances with MarketWatch's award-winning newsroom and comprehensive suite of business and analytical tools, this transaction supports our mission to be the market leader in licensed and advertising supported financial news and information," said MarketWatch CEO Larry Kramer.
tags: Website | Dow Jones | MarketWatch | Financial |