News Corp Completes Acquisition of Investor’s Business Daily
May 05 2021 - 9:00AM
Business Wire
News Corp announced today that it has successfully completed its
acquisition of Investor’s Business Daily (IBD) from O’Neil Capital
Management.
As previously announced, the high margin, profitable and rapidly
growing financial news and research business will be operated by
Dow Jones, a News Corp subsidiary.
“We welcome IBD and its talented employees to News Corp and Dow
Jones, and look forward to the many and varied ways in which this
thriving digital business will expand our expertise and provide
extra value to readers, clients and investors,” said Robert
Thomson, Chief Executive of News Corp. “I have long admired the
investment nous and digital savvy of IBD, and its timely arrival
will enable us to cross-sell and upsell products across our
flourishing portfolio.”
Almar Latour, CEO, Dow Jones, said: “Today is an exciting day
for News Corp, Dow Jones, IBD and most importantly, our collective
readers and customers. Working together, we will share skills and
strengths, as well as legacies of trusted journalism to create
industry leading connections with the professional and retail
investor communities. The completion of this acquisition marks
another step in furthering our ambition to become the most
impactful business and finance media and information company.”
Jerry Ferrara, President of Investor’s Business Daily, said:
"Today marks the official start of an exciting new chapter for our
business as we join the News Corp and Dow Jones family. This shift
only further bolsters our fundamental commitment to serve investors
with the innovative digital products, trusted resources and
authoritative information they need to navigate the markets, and we
are eager to discover fresh opportunities to enhance and expand the
impact of our initiatives."
IBD, which has approximately 130 employees, will continue to be
based at its headquarters in Los Angeles, and will operate as a
stand-alone brand as part of Dow Jones. In the quarter ended
December 31, 2020, Dow Jones achieved its highest quarterly Segment
EBITDA since 2007, with traffic across the Dow Jones digital
network also surging 48 percent. Dow Jones is home to The Wall
Street Journal, MarketWatch, Barron’s and Mansion Global, among
other publications, products and news sites.
IBD has experienced double-digit revenue growth over the past
several years, with digital representing more than 90% of IBD’s
revenues and subscriptions. A majority of IBD’s annual revenues and
profits come from the company’s unique investor tools, research and
analysis products, which have experienced sharp increases in
popularity and profitability as more and more investors seek out
quality information through digital products to guide their
financial decisions. IBD’s revenue base is almost entirely digital,
with nearly 100,000 digital subscribers across its platforms. IBD
operates the investors.com website, which reached an audience of
10.8 million average monthly unique visitors in February, 2021,
according to Adobe Analytics.
About News Corp
News Corp (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV) is a global,
diversified media and information services company focused on
creating and distributing authoritative and engaging content and
other products and services. The company comprises businesses
across a range of media, including: digital real estate services,
subscription video services in Australia, news and information
services and book publishing. Headquartered in New York, News Corp
operates primarily in the United States, Australia, and the United
Kingdom, and its content and other products and services are
distributed and consumed worldwide. More information is available
at: http://www.newscorp.com.
Forward-Looking Statements
This release contains forward-looking statements based on
current expectations or beliefs, as well as assumptions about
future events, and these statements are subject to factors and
uncertainties that could cause actual results to differ materially
from those described in the forward-looking statements. The words
“expect,” “estimate,” “anticipate,” “predict,” “believe,”
“potential” and similar expressions and variations thereof are
intended to identify forward-looking statements. These statements
appear in a number of places in this release and include statements
with respect to, among other things, the potential benefits from,
the acquisition of IBD. Readers are cautioned that any
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties. Many factors could cause
actual results to differ materially from those described in these
forward-looking statements. The forward-looking statements in this
release speak only as of this date and News Corp and Dow Jones
undertake no obligation (and expressly disclaim any obligation) to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise, except
as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20210505005615/en/
News Corp Investor Relations Michael Florin 212-416-3363
mflorin@newscorp.com
News Corp Corporate Communications Jim Kennedy 212-416-4064
jkennedy@newscorp.com
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