June 8, 2007 |
Dow Jones & Co., the newspaper publisher considering a $5-billion offer from Rupert Murdoch, made 135 managers eligible for a severance plan if the company is sold. The managers are eligible for a year's pay if they are fired within two years of a change of control, joining 25 senior executives who are covered for as much as two years, spokeswoman Linda Dunbar said Thursday.
June 20, 1991 |
Dow Jones & Co., publisher of the Wall Street Journal, announced Wednesday that Peter R. Kann has been elected chairman, effective July 1, the day Warren H. Phillips retires. At the same time, the board elected Kenneth L. Burenga, the company's chief operating officer, to succeed Kann as president of the financial news and information company. Phillips announced last fall that he intended to step down as chairman in July, 1991, after turning 65.
May 18, 1991 |
Dow Jones & Co. and Group W Broadcasting Co. said Friday that they have abandoned their three-month fight to jointly acquire Financial News Network. The companies said they ordered their lawyers to drop all legal challenges to the acquisition of FNN by Consumer News and Business Channel, a unit of NBC. After weighing the competing bids, a federal bankruptcy judge on May 9 declared CNBC the winner.
July 3, 2007 |
The founder of the company that spawned MySpace said Monday that he would be willing to work with an investment firm recruited by Dow Jones & Co. staffers to fashion a joint bid for the financial news empire. Brad Greenspan, who made a reported $47 million when his EUniverse was sold to Rupert Murdoch's News Corp., said in an interview that he would be happy to join forces with Yucaipa Cos.
March 18, 1998 |
Dow Jones & Co. said Tuesday that it will sell its financial information service to Bridge Information Systems Inc. for $510 million. The deal will make Bridge the world's second-largest provider of electronic financial data, such as stock and bond prices, with an estimated $1 billion in revenue. Reuters Holdings will remain No. 1.
June 1, 2007 |
Rupert Murdoch's dream of owning the Wall Street Journal moved closer to reality Thursday when the family that controls the paper's parent company agreed to meet with him after snubbing the $5-billion bid he had made a month ago. The Bancrofts said they had decided that Dow Jones & Co. might be better off allying with Murdoch's News Corp. or another company.
July 19, 1989
Peter R. Kann, publisher and editorial director of the Wall Street Journal, has been elected to the additional posts of president and chief operating officer of Dow Jones & Co., the business newspaper's parent company. Kann takes over the president's post from Warren H. Phillips, who remains chairman and chief executive. Phillips had been working without a No. 2 executive following the retirement of president and chief operating officer Ray Shaw earlier this year.
October 2, 1998 |
Dow Jones & Co. warned Thursday that third-quarter earnings will fall short of expectations because of unanticipated weakness in advertising during the last half of September. Meanwhile, Marriott International Inc., the nation's largest hotel company, said its fiscal third-quarter earnings rose 16%, but it warned that earnings growth will slow next year because of a hotel building boom and increased competition.