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Investing

The FT And CNBC: A Poor Man’s Guide To Buying Dow Jones (DJ)

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By Douglas A. McIntyre Published
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No one wants to pay $5 billion to buy Dow Jones (DJ), except Rupert Murdoch. Part of the logic behind his News Corp (NWS) owning that financial information company is that it can be used to help him start his Fox Business channel which will compete with CNBC. The reasoning may be a bit thin, but it is still a state goal of the transaction.

The FT, owned by Pearson (PSO), and CNBC, a unit of GE (GE), don’t want to buy anything. So, they are forming a joint venture. At first, CNBC will be able to put FT articles at its website and the FT will run CNBC content at FT.com. Of course, if someone bookmarks both sites the content is available with a key stroke.

Neither FT.com or CNBC does very well. FT.com has 91,000 paid subscribers and CNBC is only the 58th most popular financial new website according to data published in The Wall Street Journal. But, as the cost of producing financial news rises, it is not hard to see two organizations like these sharing reporting and sales resource to save money. And, if a WSJ hook up with Fox Business News works, they may have to find some savings.

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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