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Dow Jones: Wall Street Journal
built 211 days ago
Dow Jones is set to release its June advertising figures for the Wall Street Journal on Thursday. In May, the Journal's advertising revenue was down 3.4 percent, the company reported, and improved June numbers are not expected.
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The cornerstone of Dow Jones is its flagship publication, The Wall Street Journal, which ... happens to be the world's leading business publication. The Journal, which was founded in 1889, has a total print circulation of 1.66 million.
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By 1990, with a multiplicity of news-service products and its acquisition of Telerate, Dow Jones had positioned itself in the global financial market to expand into intercultural databases. Telerate's foreign exchange operation was the highest risk, most intensely competitive of such ventures. There were about a dozen other Telerate products, including SportsTicker, a sports news service. In 1994 Dow Jones sold an 80 percent share of its successful SportsTicker enterprise to the sports network ESPN. But Dow Jones & Company faced many other challenges during the early and mid-1990s, not the least of which was relatively stagnant growth in its Wall Street Journal subscriber base. New ventures... met with mixed success.
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The Times of London says NBC Universal may still be in the hunt to pick up Dow Jones, without Microsoft. The Wall Street Journal reported this morning that NBCU parent GE and Microsoft were looking at putting together a package to compete with News Corp’s $5 billion offer, but the GE-MS talks broke down. The Times says GE is casting about for a new partner, and the company didn’t rule out a bid in a carefully worded statement released today: “NBC Universal has a successful history of strategic acquisitions and as standard practice is always evaluating opportunities. It’s simply good business.”
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Murdoch has long coveted Dow Jones, whose Wall Street Journal is the second-biggest selling newspaper in the U.S. behind Gannett's USA Today. Murdoch yesterday described the Journal as ``the greatest newspaper in America.''
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