News Corp is paying $US275 million for Investor’s Business Daily, a website with 100,000 digital subscribers.
The high margin, profitable and rapidly growing digital first financial news and research business based in Los Angeles will be operated by Dow Jones, a News Corp subsidiary.
The site investors.com had an audience of 10.8 million average monthly unique visitors in February.
Investor’s Business Daily (IBD), which operates the Investors.com website, was founded by William J. O’Neil in 1984 and has experienced double-digit revenue growth over the past several years, with digital representing more than 90% of IBD’s revenues and subscriptions.
“IBD will greatly enhance our e-expertise in finance, with compelling digital coverage, unique tools and high-yielding services," says News Corp CEO Robert Thomson.
'We will be able to cross-sell and up-sell with Dow Jones financial products and provide specialist insights for a knowing business audience.
“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.”
Almar Latour, CEO, Dow Jones: “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.”
William Scott O’Neil, CEO of O’Neil Capital Management and Investor’s Business Daily: “We pride ourselves on helping to educate and empower investors so that they can make smarter, more profitable investing decisions. We can’t think of a better place than News Corp and Dow Jones to take Investor’s Business Daily into its next phase of growth and create even
more value for our loyal subscribers.”
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