Description
Dow Jones & Company is an American publishing firm owned by News Corp and led by CEO Almar Latour.
The company publishes The Wall Street Journal, Barron's, MarketWatch, Mansion Global, Financial News and Private Equity News. It formerly published the Dow Jones Industrial Average.
History
The company was founded in 1882 by three reporters: Charles Dow, Edward Jones, and Charles Bergstresser. Charles Dow was widely known for his ability to break down and convey what was often considered very convoluted financial information and news to the general public - this is one of the reasons why Dow Jones & Company is well known for their publications and transferring of important and sometimes difficult to understand financial information to people across the globe. Nevertheless, the three reporters were joined in control of the organization by Thomas F. Woodlock.
Dow Jones was acquired in 1902 by Clarence Barron, the leading financial journalist of the day, after the death of co-founder Charles Dow. Upon Barron's death in 1928, control of the company passed to his stepdaughters Jane and Martha Bancroft. The company was led by the Bancroft family, which effectively controlled 64% of all voting stock, until 2007 when an extended takeover battle saw News Corporation acquire the business. The company then became a subsidiary of News Corporation. It was reported on August 1, 2007, that the bid had been successful after an extended period of uncertainty about shareholder agreement, with the transaction finalized on December 13, 2007. It was worth US$5 billion or $60 a share, giving News Corp control of The Wall Street Journal and ending the Bancroft family's 105 years of ownership.
The company was best known for the publication of the Dow Jones Industrial Average and related market statistics, Dow Jones Newswire, and a number of financial publications. In 2010 the Dow Jones Indexes subsidiary was sold to the CME Group and the company focused on financial news publications, including its flagship publication The Wall Street Journal and providing financial news and information tools to financial companies.
In April 2020, Dow Jones CEO William Lewis announced he would be stepping down from his position after nearly six years in the role.
On May 7, 2020 News Corp announced that Almar Latour would assume the CEO role on May 15, 2020.
