Press release
News Corp Completes Acquisition of Investor’s Business Daily
NEW YORK--(BUSINESS WIRE)-- News Corp announced today that it has successfully completed its acquisition of Investor’s Business Daily (IBD) from O’Neil
About this update from News Corporation
[{"type":"text","content":" NEW YORK--(BUSINESS WIRE)--\nNews Corp announced today that it has successfully completed its acquisition of Investor’s Business Daily (IBD) from O’Neil Capital Management.\n\nAs previously announced, the high margin, profitable and rapidly growing financial news and research business will be operated by Dow Jones, a News Corp subsidiary.\n\n“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.”\n\nAlmar 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.”\n\nJerry 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.\"\n\nIBD, 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.\n\nIBD has experienced double-digit revenue growth over the past ...