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Dow Jones Acquires Financial News Site MarketWatch for $528 Million

Authored by Mark Hefflinger on January 24, 2005 - 7:26am.
New York -- Dow Jones & Company, publisher of The Wall Street Journal, announced on Monday that it has acquired financial news site MarketWatch for $528 million. The deal ends a bidding war for MarketWatch that included The New York Times Company, the Gannett Company and Viacom. Dow Jones, whose WSJ.com is the largest paid subscription site on the Internet, said MarketWatch will no longer carry the CBS branding, and will retain its best-known columnists and reporters, in addition to its online radio network. "Together, The Wall Street Journal network of sites and MarketWatch attract close to 9 million unduplicated unique visitors per month," said Richard F. Zannino, chief operating officer and executive vice president of Dow Jones. "With a nearly tripling of the reach of our online network, we will take even greater advantage of continued strong growth in both online usage and advertising."
tags: Acquisition | Acquires | Dow Jones | Financial News Site | MarketWatch |