Business Unit News
Dow Jones & Company Acquires SmartMoney Franchise From Hearst Corporation
SmartMoney Strengthens Dow Jones' Broad Commitment to High Quality Personal Finance News and Commentary; Consumers Seek Reliable Financial Planning Information
NEW YORK, March 2, 2010 – Dow Jones & Company is expanding its
portfolio of personal finance content by acquiring the Hearst Corporation's 50%
interest in the SmartMoney franchise, bringing Dow Jones' total interest to
100%. The SmartMoney franchise includes SmartMoney magazine, Smartmoney.com and
SmartMoney Custom Solutions, a custom publishing division. SmartMoney has been a
partnership between Dow Jones and Hearst since 1991. Financial details about the
transaction will not be disclosed.
"SmartMoney is a natural fit within Dow Jones, having carried brand association
with The Wall Street Journal since its launch," said Todd Larsen, president of
Dow Jones & Company. "SmartMoney is a trusted brand with high quality editorial
and a clear focus on personal finance news and information. During this
turbulent economy, when many readers are seeking long-term guidance on managing
a variety of personal finance issues, the need for high quality content in this
space has never been greater. Having the SmartMoney franchise 100% integrated
with the Dow Jones and Wall Street Journal teams will provide the avenues for
the brand to grow exponentially."
Since its inception in 1992, SmartMoney has provided its readers with practical
ideas for saving, investing, and spending. With a current print and online
audience of nearly six million, SmartMoney provides in-depth coverage of
technology, automotive and lifestyle subjects including travel, fashion, fine
wine, and more. The SmartMoney editorial team has earned three National Magazine
Awards and was a finalist 14 times. Its editorial team includes three Pulitzer
Prize winners.
"We've enjoyed the nearly 20-year relationship we've had with Dow Jones," said
Cathleen P. Black, president, Hearst Magazines. "SmartMoney magazine,
smartmoney.com and Custom Solutions from SmartMoney will undoubtedly benefit as
part of the Dow Jones portfolio of respected financial media brands, and we are
sure that they will continue to thrive under their leadership."
"Hearst has been a superb partner for Dow Jones. Hearst has been committed to
the same principles as Dow Jones--high quality editorial steeped in the high
standards and ethics of the Journal as fostered by the leadership of Cathie
Black and her team," said Mr. Larsen.
About Dow Jones & Company
Dow Jones & Company (www.dowjones.com) is
a News Corporation company (Nasdaq:NWS) (Nasdaq:NWSA) (ASX:NWS) (ASX:NWSLV) (www.newscorp.com)
and a leading provider of global news and business information. Its principal
products include The Wall Street Journal, Dow Jones Newswires, Dow Jones
Factiva, Barron's, MarketWatch and Dow Jones Indexes. Its Local Media Group
operates community-based newspapers and Web sites. Dow Jones also provides news
content to television and radio stations.
About SmartMoney
SmartMoney, The Wall Street Journal Magazine, was launched in 1992 by The Hearst
Corporation and Dow Jones & Company. SmartMoney educates, informs and empowers
our audience of affluent baby boomers, C-Suite executives and financial
professionals to make smart investing, saving and spending decisions. SmartMoney
presents practical yet highly imaginative ideas for saving, investing, and
spending, plus regular coverage of technology, automotive and lifestyle subjects
including travel, fashion, fine wine, and more. In all cases, we stress consumer
service with action-oriented information. Its editorial team, which has won
three National Magazine Awards and was a finalist 14 times, includes three
Pulitzer Prize winners.
Contact:
Dow Jones & Compay
Robert H. Christie
212-416-2636
robert.christie@dowjones.com