Rupert Murdoch’s News Corp is buying digital-first financial news and research publisher Investor’s Business Daily for USD 275 million. The company announced that its Dow Jones unit, which publishes The Wall Street Journal, MarketWatch and Barron’s, would operate Investor’s Business Daily. Investor’s Business Daily will continue to exist as a stand-alone brand.
Seller is O´Neil Capital Management. The publication has close to 100 000 digital subscribers across its platforms, News Corp said.
“The cross-selling opportunities with the Journal, Barron’s and MarketWatch are significant,” News Corp´s CEO Robert Thomson told The Wall Street Journal. “When you have paying customers, they are prepared to pay more for specialty services—they have crossed the revenue Rubicon.”