{{infobox company | company name

CME Group Indexes, LLC dba/ Dow Jones Indexes - A CME Group Company | company_logo | company_type Joint venture of CME Group Inc. and Dow Jones & Company, which is a subsidiary of News Corporation | foundation 15 Wall Street, New York (1882) | founder Charles Dow, Edward Jones, Charles Bergstresser | location Princeton, NJ | parent CME Group Inc. with Dow Jones & Company as minority partner | divisions | subsid | footnotes | homepage }}

Dow Jones Indexes (DJI) was formed in 1997 as an entity within Dow Jones & Co. It is now owned by the CME Group. It serves as the marketing name of CME Group Indexes, LLC. It produces, maintains, licenses and markets indexes as benchmarks and as the basis of investible products such as exchange traded funds (ETFs), mutual funds and structured products. The company currently has employees in 14 cities worldwide, including Princeton, NJ, New York, Chicago, London, Frankfurt, Singapore, Hong Kong, Beijing, Mexico City and Dubai (its latest office).

In 2010, the Company became Dow Jones Indexes, a CME Group Company.

Dow Jones' best known index is the Dow Jones Industrial Average, which was created in 1896. The oldest index in use is the Dow Jones Transportation Index, which was created in 1882 by Charles Dow, founder of The Wall Street Journal. An index follows a certain market and gives investors a single number to summarize its ups and downs. It is a means by which the world's institutional (and retail) investors can track a market without having to buy the underlying components. It is a convenient way for someone interested in a broad, narrow or extremely narrow group of securities to track them.

Pension funds and other money managers often use indexes as benchmarks. This means that "active" investors (those who pick various securities to buy and hold for their returns) track their own returns against a benchmark index (an index that typifies its market) to see if they are out- or under-performing that market. Investors who do not want to do this (those who buy into indexes or securities that use indexes as their basis) are called "passive" investors. They are known to link their portfolios to the broad market and to not try to outguess conventional market wisdom. Passive investors argue that almost no active investors can beat the overall markets in the long-term.

Indexes

The DJI has over 130,000 indexes, though a lot of these are not used by many people. Most are equity (stock) indexes, but also fixed-income, futures, options, private equity, commodity, currency and other alternative asset class indexes. Dow Jones Indexes says that all its products are maintained according to clear, unbiased and systematic methodologies that are fully integrated within index families.

DJI and SAM Group, launched the Dow Jones Sustainability Indices in 1999. These indexes track performance of sustainability-driven companies around the world. There are currently 70 DJSI licensees held by asset managers in 16 countries to manage a variety of financial products, including active and passive funds, certificates and segregated accounts.

DJI partnered with AIG to create the Dow Jones-AIG Commodity Index. It tracks trades on futures contracts for physical commodities, like energy (petroleum, gas), precious metals (gold, silver), industrial metals (zinc, copper), grains (corn, wheat), livestock (pork bellies), among others. They are traded in a variety of currencies.

UBS Securities LLC has acquired AIG Financial Product Corp.'s commodity business as of May 6, 2009. As such, the Dow Jones-AIG Commodity Indexes have been re-branded as the Dow Jones-UBS Commodity Indexes effective May 7, 2009.

The Dow Jones Select Dividend Indexes reflects the performance of leading dividend-yielding stocks. It includes global and regional indexes. It was DJI's first fundamentals-driven index.

Dow Jones Indexes also does "specialty" indexes for specific markets or interests. It has the Dow Jones U.S. Economic Stimulus Index, the Olympic-inspired Dow Jones Summer/Winter Games, the race-car centric Dow Jones Formula 1 Index and the closely followed Dow Jones Luxury Index, among others.

Companies can also request that specific indexes be created to suit their clients' interest or for publicity purposes. This is popular with smaller asset management and public relations firms.

Recent history

In March 2008, Chicago Climate Exchange, Inc. (CCX), the world's first and North America's only voluntary, legally binding integrated greenhouse gas emissions reduction, registry and trading system, announced that Dow Jones Indexes and Sustainable Asset Management (SAM) had granted CCX a license for the Dow Jones Sustainability World (DJSI World) and Dow Jones Sustainability North America Indexes (DJSI North America). The contracts are listed on CCX's wholly – owned subsidiary Chicago Climate Futures Exchange (CCFE), the world's leading environmental derivatives exchange. They trade emissions credits and DJI makes the indexes that are based on them.

In July 2008, DJI partnered with Brookfield Asset Management (BAM) to develop the Dow Jones Brookfield Infrastructure Indexes. This index series was designed to serve as benchmarks of companies that own and operate key infrastructure assets, like toll roads, pipelines and ports.

DJI launches an average of one index or index family per week. It often creates an index for a specific event (i.e. Dow Jones 2008 Summer Games Index, launched December 2007), a specific market (Dow Jones Luxury Index, launched June 2008) or a very small market (Dow Jones Cyprus Titans 10 Index). In some instances it cooperates with other entities to create a custom index (Barron’s 400 Index, launched September 2007).

In July 2007, the Iowa Peace officers Retirement System has adopted the Dow Jones Wilshire Index Family (now called the Dow Jones Total Stock Market Indexes; see below). These indexes are popular benchmarks for pension funds looking to minimize risk and market exposure. They used the Dow Jones Wilshire 5000sm (now called the Dow Jones U.S. Total Stock Market Index), to benchmark its equity investment portfolio.

In August 2008, News Corp. Chairman Rupert Murdoch announced a new worldwide benchmark index – the Global Dow. It will comprise 150 stocks around the world that will include large companies in established markets, but also rising stars in emerging markets as well as companies specializing in new technologies. Murdoch made the announcement in Mumbai, India, emphasizing its global outlook.

Dow Jones Industrial Average historical data (along with several other major indexes) recently became available on a new website, www.djaverages.com. The company also has a widely-read quarterly newsletter called Insights that covers the industry. The current issue as well as back issues are available at http://www.djindexes.com/insights/.

In April 2009, Dow Jones rolled out the Dow Jones Total Stock Market (TSM) Indexes. They were designed to provide comprehensive coverage of the U.S. equity market. It's flagship index was intended to be the Dow Jones U.S. Total Stock Market Index, an all-inclusive measure composed of all U.S. equity securities with readily available prices. It is sliced according to stock-size segment, style and sector to create distinct sub-indexes that track every major segment of the market. DJI claims that the indexes were created and maintained according to an objective and transparent methodology with the fundamental aim of providing reliable, accurate measures of U.S. equity performance.

On June 1, 2009, DJI changed the components of the famous benchmark Dow Jones Industrial Average. It cut Citigroup and GM - both of which were trading at or under $1 per share (and both of which, after receiving Federal bailout money, were practically government wards). They were replaced by insurance giant Travelers and IT pioneer Cisco Systems.

Later that month, Dow Jones Indexes announced a joint marketing agreement with LVA Indices (Chile,) and Proveedor Integral de Precios (PIP) to create a new series of corporate and government fixed income indexes called Dow Jones Latixx Indexes . It started with dozens of Mexican and Chilean bonds, with plans to move into Costa Rica, Peru, Argentina, Brazil, Colombia and Venezuela. If you go to its www.latixx.com website, then go to About Us, and then Video, there is a mini-infomercial in English. The Spanish version of the site has the same video in Spanish. The video is also up on Youtube: . In February 2010, it added 22 new bonds from Chile and Mexico.

Dow Jones Indexes was named Most Innovative ETF Index Provider 2009 for the Americas by exchangetradedfunds.com

In October 2009, the Dow Jones GCC Titans 50 Real Return Index became the basis for the first exchange traded fund (ETF) in the United Arab Emirates (UAE). The licensee is National Bank of Abu Dhabi (NBAD). The index measures the performance of 50 leading component stocks traded in the six Gulf Cooperation Council (GCC) member states: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and United Arab Emirates.

That same month, DJI launched DJIM Greater China Index. It has been licensed to ETFs in Malaysia and other countries.

November 2009: Charles Schwab licensed five Dow Jones Total Stock Market (TSM) Size and Style indexes for exchange traded funds. It is "Chuck's" first proprietary line of ETFs.

In that same month, the Dow Jones Industrial Average was licensed by Simplex Asset Management in Japan to underlie an ETF. This is the first time the DJIA was licensed to a Japanese ETF. It launched in December 2009.

In January 2010, DJI announced that the Dow Jones Corporate Bond Index would serve as the basis of the first fixed-income exchange-traded note (ETN) available in Israel. This was the first time the index has been licensed as the basis for an exchange-traded product globally. The ETN is sponsored by Harel SAL, a subsidiary of Harel Finance, and is available on the Tel Aviv Stock Exchange (TASE).

In addition to the Dow Jones Corporate Bond Index, Dow Jones Indexes licensed the Dow Jones Brazil Titans 20 Index as the basis for an ETN that was listed at the TASE.

On February 10, 2010, Dow Jones and CME Group announced an agreement to form a joint venture to operate a global financial index services business. The definitive agreement is set to provide for CME Group to own 90% of the venture to which Dow Jones will contribute its Dow Jones Indexes business valued at $675 million. Dow Jones is expected to hold the remaining 10% and retain a key role in the management of the Dow Jones Industrial Average. CME Group will contribute a business which provides certain market data services said to be valued at $607.5 million to the joint venture. The new joint venture will also raise approximately $613 million in third-party debt which will be used to pay a $607.5 million distribution to Dow Jones.

The deal was expected to close in the 1st quarter 2010 since it passed regulatory clearance.

On March 4, 2010, Dow Jones Indexes signed a memorandum with The Global Fund to Fight AIDs, Tuberculosis and Malaria to explore the creation of a family of indexes that could be licensed as the basis for investment products. The first is expected to be called the Dow Jones Global Fund 50 Index, which would most likely focus on Blue Chip stocks.

Both The Global Fund and Dow Jones Indexes hoped to benefit from this collaboration. The Global Fund wants to further strengthen its engagement with the private sector and bring to bear the power of financial markets to help its efforts around the world. The Global Fund is a leading multilateral financing organization in global health with commitments with more than US$19 billion to date. Dow Jones Indexes intended to add to its range of socially-conscious indexes that will complement its increasingly diverse range of products.

In December 2010, the Dow Jones Global Fund 50 Index was launched, based on 50 large companies that support The Global Fund's activities. It was licensed to db X-trackers, the leading ETF platform of Deutsche Bank, to serve as a basis for a financial product, the db x-trackers Global Fund Supporters ETF. The ETF begins trading today on the Frankfurt stock exchange.

On March 18, 2010, CME Group and Dow Jones Indexes officially launched the new joint venture (JV). CME Group has 90% ownership.

The new JV continued to create new products, such as the Dow Jones Contrarian Opportunities Index, which went live on April 8, 2010. It is a rules-based index that has a “contrarian” investment strategy focusing on companies with strong recent fundamentals but a lagging three-year-trailing return. The index has been licensed to Javelin Investment Management to underlie an exchange-traded fund (ETF) on the NYSE Euronext. It is the only index family that tracks the contrarian investing strategy.

On March 24, 2010, the Dow Jones UAE 25 Index, which measures the performance of the 25 of the largest and most liquid equity securities trading in the United Arab Emirates (UAE), came into being. It was licensed to National Bank of Abu Dhabi (NBAD) and underlies the first exchange-traded fund (ETF) in the UAE. The NBAD OneShare Dow Jones UAE 25 ETF was to be listed at the Abu Dhabi Stock Exchange as well.

Jamie Farmer was named Executive Director of DJI on April 18, 2010. He had been Senior Director of Global Index Operations and Head of Exchange Relationships.

The Dow Jones RBP Index added four new indexes on May 3, 2010. These indexes track "required business performance" of companies. It has three directional strategy indexes and one fundamentally weighted U.S. market index (Dow Jones RBP U.S. Large-Cap Aggressive Index, the Dow Jones RBP U.S. Large-Cap Defensive Index, and the Dow Jones RBP U.S. Large-Cap Market Index). They were created with Transparent Value, LLC, which is a Guggenheim Partners company. There is a video explaining the way that the methodology and the indexes work (http://www.djindexes.com/media/?playlist=videos Dow Jones RBP Index video).

June 8, 2010 - DJI (now part of CME Group)launches Dow Jones CME FX$INDEX. It serves as the basis of a new futures contract (CME Group is the world leader in derivatives, including futures). The new index combines six currency futures and represents the relative value of the U.S. dollar versus six major currencies (the Australian dollar, British pound, Canadian dollar, Euro, Japanese yen, and Swiss franc).

The Dow Jones Long-Term Inflation Indexes were launched in July 2010. They measure Treasurys and TIPS to gauge the market's expectations on inflation. The indexes measure the difference between futures on 30 year TIPS and Ultra-Long bonds. They were chosen for their length, transparency and liquidity, according to the company's press release. They were developed in cooperation with Credit Suisse.

The company has a long history in sustainability indexing for socially conscious investors. That continued with the launch of the Dow Jones Sustainability Europe on September 9, 2010. They were made to complement the global Dow Jones Sustainability index series. They include broad benchmark as well as blue chip indexes for Europe and the Euro zone. They were made together with long time collaborator SAM. The top five components of the index are Nestle S.A., HSBC Holdings PLC (UK Reg), Novartis AG, Total S.A. and Banco Santander S.A.

On September 14, 2010, the company came out with the Dow Jones Emerging Markets Consumer Titans 30 Index, which measures the performance of 30 leading consumer goods and consumer service companies in emerging markets. This is important as consumer spending is considered a leading indicator in markets and the broader economy. The index was licensed to Emerging Global Advisors, LLC and will serve as a basis for an exchange-traded fund (ETF), to be listed on NYSE Arca. It is called the EGShares Emerging Markets Consumer ETF - the first emerging market ETF focused on consumer trends in the developing world.

On October 7, 2010, Dow Jones Indexes the Dow Jones MENA (Middle East/North Africa) Broad Stock Market and Dow Jones Saudi Titans 30 Indexes.

The Dow Jones U.S. Venture Capital Index is launched with partner firm Sand Hill Econometrics. It is the first index that tracks the venture capital market, not just publicly-traded stocks that started as venture capital-funded start-ups. It follows companies with VC funding, including shut-downs and buyouts. It came out on October 28, 2010.

November 17, 2010, Dow Jones Indexes announces the Dow Jones Golden Crossover U.S. Large-Cap Total Stock Market Index, the first index within the Dow Jones Golden Crossover Indexes family.

November 30 of that year - SAM and Dow Jones Indexes launch the Dow Jones Sustainability Nordic Index (DJSI Nordic).

On December 20, 2010, DJI announced a new country classification system that will apply to all countries covered in its major index families. The implementation of the new system was set to begin in March 2011. Countries would be separated into "Developed," "Emerging," and "Frontier" markets. http://press.djindexes.com/index.php/dow-jones-indexes-to-introduce-a-new-country-classification-system/

January 19, 2011 - Licensed Dow Jones U.S. Mid-Cap Total Stock Market Index and the Dow Jones U.S. Select REIT Index to Charles Schwab in an expansion of Schwab’s proprietary exchange-traded funds (ETFs) platform. Schwab U.S. REIT ETF™ (SCHH) and the Schwab U.S. Mid-Cap ETF™ (SCHM), both of which began trading in January 2011, on NYSE Arca.

February 22, 2011 - They launched the Dow Jones Islamic Market Global Finance & Takaful Index, which measures the performance of financial services stocks that pass rules-based screens for Shari’ah compliance. (Insurance stocks that pass such screens are known as Takaful.)

February 28, 2011- iShares (a long-time licensor of Dow Jones Indexes products) created two equity sustainability-based ETFs based on Dow Jones Sustainability World Enlarged ex All/AE Index and the Dow Jones Sustainability Europe ex All/AE Index.

March 1, 2011 - Company launched Dow Jones Brookfield Emerging Markets Infrastructure Index with partner Brookfield Asset Management. It tracks builders and owners/operators of property, power and infrastructure assets in developing nations.

To celebrate the 115th anniversary of the Dow Jones Industrial Average, Editor and Executive Director John Prestbo led a panel discussion for a media audience at NYSSA. The event took place May 11, 2011. http://www.djindexes.com/media/?playlist=press-events

Awards

-Sh. Mohammed Rashid Bin Makhtoum Award for Innovation in Islamic Finance (2003)

-CERT Award for Excellence in Islamic Finance (2004)

-Deloitte/KLIFF (Kuala Lumpur Islamic Finance Forum) Award for Special Contribution to Islamic Finance (2005)

-Failaka Islamic Fund Award for Best Contribution & Development to Islamic Funds (2005)

-Contribution to Islamic Capital Market Development (IIFF, 2006)

-Sh. Mohammed Rashid Bin Makhtoum Award for Contribution by Western Institution to Islamic Finance (2006)

-American Muslim Achievement Award (Islamic Center of Southern California, 2006)

-Best Individual Contribution to Islamic Finance (KLIFF, 2007)

-April 2006 - Dow Jones Indexes won Failaka Islamic Fund Awards 2005 for the Best Contribution to Growth & Development of Islamic Funds.

-November 2006 - Dow Jones Indexes was named "Index Provider of the Year, Asia" by the U.K.-based magazine Structured Products and based on the votes of an independent judging panel. The award recognizes Dow Jones Indexes' work in the index field.

-December 2007 - Dow Jones Indexes won the "Best Islamic Index Provider" category of the inaugural Master of Islamic Finance Awards by Terrapin Ltd. The award recognized the wide market acceptance of the Dow Jones Islamic Market Index series and Dow Jones Indexes’ leadership and commitment to providing benchmarks for Shari’ah-compliant stocks and bonds.

-June 2008 - Dow Jones Indexes was named the "Most Innovative ETF Index Provider of 2007" for the Americas at the 4th annual Global ETF Awards hosted by Exchangetradedfunds.com. Dow Jones Indexes won on the basis of unique index offerings such as the Dow Jones Islamic Market Indexes and Dow Jones – AIG Commodity Indexes.

-June 2008 - Dow Jones Indexes won two awards for its Dow Jones Islamic Market Index Family. Global Finance magazine named the global index provider "Best Shari'ah – Compliant Index Provider". The award will be conferred during an awards ceremony on October 13, 2008 at the National Press Center in Washington. Furthermore, Dow Jones Indexes received the "Global Recognition for a Financial Institution Award". The award was presented at the International Islamic Finance Forum in Dubai.

-December 2008 - Named "Most Outstanding Islamic Index Provider of the Year" at the 5th KLIFF Islamic Finance Awards 2008 held in Kuala Lumpur, Malaysia.

-January 2009 - Named the "Best Islamic Index Provider" by Islamic Finance News. The selection was made by a record 1,502 Islamic finance professionals worldwide.

-April 2009 - Named "Best Shari'ah-Compliant Index Provider" by Global Finance magazine for the second consecutive year.[6]

-June 2009 - Dow Jones Indexes was named Most Innovative ETF Index Provider 2009 for the Americas by exchangetradedfunds.com (web site of the Chicago Board Options Exchange). [www.exchangetradedfunds.com]

-December 2009- Named "Best Index Provider Shari'ah compliant Indexes" by Dubai-based Islamic Business & Finance magazine.

-January 2010- Named “Best Islamic Index Provider” in the Islamic Finance News (IFN) award poll for the third consecutive year.

-January 2010 - Asia Asset Management Awards 2009 names DJI winner of Index Provider of the Year in Asia.

-January 2010 - Wins "Index Provider of the Year in Asia" by Asian Asset Management magazine.

-May 2010 - Named "Best Shari'ah-Compliant Index Provider" by Global Finance magazine for the third consecutive year.

-August 2010 - Winner of KLIFF "Most Outstanding Islamic Index Provider" award

-September 2010- Named "Best Index Provider" by Asset Triple A Investment Awards (called "Asia’s defining recognition for excellence for the leading investment and financial institutions in the industry"). [7]

-November 1, 2010 - Dow Jones Indexes Named Best Islamic Index Provider In Islamic Finance News (IFN) Award Poll.

-December 2010 - Named "Best Index Provider, Shari’ah-Compliant Indexes," by Islamic Business & Finance for 2010.

-January 21, 2011- Wins "Best Islamic Index Provider" at 5th annual Islamic Business and Finance Awards.

-January 31, 2011 - Wins “Islamic Index Provider of the Year in Asia” at the Asia Asset Management Awards.

-April 2011- Winner of "Best Shari'ah-Compliant Index Provider" (Global Finance, 2011).

Research information

The company puts out a quarterly news magazine called Insights (http://dowjonesindexesinsights.com/). The company has topical Market Commentary videos (http://www.djindexes.com/media/?playlist=market-commentary), video interviews (http://www.djindexes.com/media/?playlist=video-interviews) and press events (http://www.djindexes.com/media/?playlist=press-events) for researchers, academics and market makers to use.

References

See also

Dow Jones Industrial Average

Index (economics)

CME Group

Dow Jones & Company

External links

CME Group corporate home page

Category:Dow Jones & Company Category:Financial services companies Category:American stock market indices

{{infobox company| company name

Dow Jones & Company Inc.| company_logo Dow Jones & Company logo|210px | company_type Subsidiary | foundation 15 Wall Street, New York (1882) | founder Charles Dow, Edward Jones, Charles Bergstresser | location 1211 Avenue of the Americas, New York, New York | key_people Todd Larsen (President)

industry

News and Publishing| products Wall Street JournalBarron's MagazineDow Jones NewswiresDow Jones Financial Information ServicesFactivaFINS.comMarketWatch.comSmartMoneyVedomosti(See complete products listing.) | revenue $1.5 billion USD (2009) | net_income $386.56 million USD (2009) | operating_income | assets | equity | owner | num_employees | parent News Corporation | divisions | subsid | footnotes | homepage dowjones.com}}

Dow Jones & Company is an American publishing and financial information firm.

The company was founded in 1882 by three reporters: Charles Dow, Edward Jones, and Charles Bergstresser. Like ''The New York Times'' and the ''Washington Post'', the company was in recent years publicly traded but privately controlled. The company was led by the Bancroft family, which effectively controlled 64% of all voting stock, before being acquired by News Corporation.

The company became a subsidiary of News Corporation after an extended takeover bid during 2007. It was reported on August 1, 2007 that the bid had been successful after an extended period of uncertainty about shareholder agreement. The transaction was completed on December 13, 2007. It was worth US$5 billion or $60 a share, giving NewsCorp control of ''The Wall Street Journal'' and ending the Bancroft family's 105 years of ownership.

In 2010, the company sold 90% of Dow Jones Indexes to the CME Group, including the Dow Jones Industrial Average.

Consumer media

Its flagship publication, ''The Wall Street Journal'', is a daily newspaper in print and online covering business, financial national and international news and issues around the globe. It began publishing on July 8, 1889. Other editions of the ''Journal'' include:

''The Wall Street Journal Asia'' covering news and business in Asia and around the world;

''The Wall Street Journal Europe'' covering news and business in Europe and around the world;

''The Wall Street Journal Special Editions'', publishing translations of articles for inclusion in local newspapers, notably in Latin America.

Other consumer-oriented publications of Dow Jones include ''Barron's Magazine'', a weekly overview of the world economy and markets; MarketWatch.com, the online financial news site; and the consumer magazine ''SmartMoney'' which was jointly owned with Hearst Corporation until they sold their stakes to Dow Jones in March 2010.

The monthly journal ''Far Eastern Economic Review'' closed in September 2009.

Local media

Dow Jones also owns Dow Jones Local Media Group, which publishes several community newspapers in the U.S.

Enterprise media

The Dow Jones Enterprise Media Group provides financial news and information primarily to business customers. Its products combine content and technology tools to help drive decisions. Major brands include Dow Jones Newswires, Dow Jones Factiva, Dow Jones Indexes, Dow Jones Client Solutions and Dow Jones Financial Information Services.

Ventures

In 2009 Dow Jones Ventures launched FINS.com, a standalone resource for financial professionals with information about finance careers and the finance industry.

Broadcasting

In broadcasting, Dow Jones provides news content to CNBC in the U.S. It produces two shows for commercial radio, ''The Wall Street Journal Report'' on the Wall Street Journal Radio Network and ''The Dow Jones Report''.

Indices

Dow Jones sold a 90% stake in its Index business for $607.5M to Chicago-based CME Group in February 2010. A few of the most widely used include:

Dow Jones Industrial Average (DJIA, "Dow 30", or often simply "The Dow")

Dow Jones Transportation Average

Dow Jones Utility Average

Dow Jones Composite Average

The Global Dow

Dow Jones Global Titans 50 Index

Dow Jones Total Stock Market Index

Dow Jones Sustainability Indexes

Dow Jones-UBS Commodity Indexes

Dow Jones Target Date Indexes

Ownership

The Bancroft family and heirs of Clarence W. Barron once effectively controlled the company class B shares, each with a voting power of ten regular shares, prior to its sale to News Corp. At one time, they controlled 64% of Dow Jones voting stock.

Buyout offer

On May 1, 2007, Dow Jones released a statement confirming that News Corporation, led by Rupert Murdoch, had made an unsolicited offer of $60 per share, or $5 billion, for Dow Jones. Stock was briefly halted for pending press release. The halt lasted under 10 minutes while CNBC was receiving data. It has been suggested that the buyout offer is related to Murdoch's new cable business news channel Fox Business that launched in 2007. The Dow Jones brand brings instant credibility to the project.

On June 6, 2007, CEO Brian Tierney of Philadelphia Media Holdings L.L.C., owning company of ''The Philadelphia Inquirer'', ''Philadelphia Daily News'', and Philly.com, went public in an article on Philly.com expressing interest in "joining with outside partners to buy Dow Jones." Tierney said, "We would participate as Philadelphia Media Holdings, along with other investors. We wouldn't do it alone."

In June, MySpace founder Brad Greenspan put forth a bid to buy 25% of the Dow for $60 a share, the same price per share as News Corporation's bid. Greenspan's offer was for $1.25 billion for 25% of the company.

On July 17, 2007, The ''Wall Street Journal'', a unit of Dow Jones, reported that the company and News Corporation had agreed in principle on a US$5 billion takeover, that the offer would be put to the full Dow Jones board on the same evening in New York, and that the offer valued the company at 70% more than the company's market value.

Insider trading scandal

Upon investigating suspicious share price movements in the run-up to the announcement, the SEC alleged that board member Sir David Li, one of Hong Kong's most prominent businessmen, had informed his close friend and business associate Michael Leung of the impending offer. Leung had acted on this information by telling his daughter and son-in-law, who reaped a US$8.2 million profit from the transaction.

Corporate governance

Prior to its sale to News Corp, the last members of the board of directors of the company were: Christopher Bancroft, Lewis B. Campbell, Michael Elefante, John Engler, Harvey Golub, Leslie Hill, Irvine Hockaday, Peter Kann, David Li, M. Peter McPherson (Chairman), Frank Newman, James Ottaway, Elizabeth Steele, and William Steere.

See also

Closing milestones of the Dow Jones Industrial Average

List of assets owned by Dow Jones

References

External links

Dow Jones corporate site

Dow Jones corporate history

Dow Jones Indexes corporate site

Dow Jones Stock Indexes averages research site

Dow Jones Indexes video on indexing using Latin America as an example

Wall Street Journal

Dow Jones Today

Dow Jones Newswires

Yahoo! Finance - Dow Jones & Company, Inc. Company Profile

MarketWatch news site

Dow Jones Sustainability Indexes

Industry Classification Benchmark - Dow Jones Indexes and FTSE

Overview of company history "Dow Jones Saga Reflects The Forces That Shaped The Wall Street Journal"

Category:Companies based in New York City Category:Companies established in 1882 Category:Companies disestablished in 2007 Category:News Corporation subsidiaries Category:Media companies of the United States Category:Financial data vendors

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Joseph E. Granville (born August 20, 1923), often called Joe Granville, is a financial writer and investment speaker. He popularized the use of "on balance volume", a technique of technical analysis that attempts to predict future prices of stocks, commodities, and other financial assets traded on financial markets for which historical price and volume information is available.

Granville is probably best known for his bearish market calls during the 1970s, 1980s, and 1990s, when he claimed that the stock market was headed for imminent collapse. His overall track record, according to the Hulbert Financial Digest, is very poor.

The Granville Market Letter "is at the bottom of the Hulbert Financial Digest's rankings for performance over the past 25 years - having produced average losses of more than 20 percent per year on an annualized basis."

Nevertheless Granville was known as a great showman who would emerge from a coffin at an investment conference, or appear to walk across water (at a swimming pool) when meeting clients. According to Robert Shiller in his book Irrational Exuberance

His investment seminars were bizarre extravaganzas, sometimes featuring a trained chimpanzee would could play Granville's theme song "The Bagholder's Blues," on piano. He once showed up at an investment seminar dressed as Moses, wearing a crown and carrying tablets. Granville made extravagant claims about his forecasting ability. He said he could predict earthquakes and once claimed to have predicted six of the past seven major world quakes. He was quoted by TIME Magazine as saying "I don't think that I will ever make a serious mistake in the stock market for the rest of my life," and he predicted that he would win the Nobel Prize in economics.

Yet, Shiller states that Granville's market calls were said by major media sources to have caused large moves in the Dow Jones Industrial Average on April 22, 1980 (+4.05%) and on January 6, 1981.

References

External links

The Granville Letter

On Balance Volume

Harvard International Review - Exuberant Reporting Media and Misinformation in the Markets

Journal of Portfolio Management Spring 1982

Category:1923 births Category:Living people Category:Financial writers