News Corp Completes Acquisition of Investor's Business Daily
New York, NY (May 5, 2021) - News Corp announced today that it has successfully completed its acquisition of Investor's Business Daily (IBD) from O'Neil Capital Management.
As previously announced, the high margin, profitable and rapidly growing financial news and research business will be operated by Dow Jones, a News Corp subsidiary.
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.
Almar 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.
Jerry 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.
IBD, 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.
IBD has experienced double-digit revenue growth over the past several years, with digital representing more than 90% of IBD's revenues and subscriptions. A majority of IBD's annual revenues and profits come from the company's unique investor tools, research and analysis products, which have experienced sharp increases in popularity and profitability as more and more investors seek out quality information through digital products to guide their financial decisions. IBD's revenue base is almost entirely digital, with nearly 100,000 digital subscribers across its platforms. IBD operates the investors.com website, which reached an audience of 10.8 million average monthly unique visitors in February, 2021, according to Adobe Analytics.
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About News Corp
News Corp (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV) is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. The company comprises businesses across a range of media, including: digital real estate services, subscription video services in Australia, news and information services and book publishing. Headquartered in New York, News Corp operates primarily in the United States, Australia, and the United Kingdom, and its content and other products and services are distributed and consumed worldwide. More information is available at: http://www.newscorp.com.
Contacts
News Corp Investor Relations
Michael Florin
212-416-3363
mflorin@newscorp.com
News Corp Corporate Communications
Jim Kennedy
212-416-4064
jkennedy@newscorp.com
Forward-Looking Statements
This release contains forward-looking statements based on current expectations or beliefs, as well as assumptions about future events, and these statements are subject to factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The words expect, estimate, anticipate, predict, believe, potential and similar expressions and variations thereof are intended to identify forward-looking statements. These statements appear in a number of places in this release and include statements with respect to, among other things, the potential benefits from, the acquisition of IBD. Readers are cautioned that any forward-looking statements are not guarantees of future performance and involve risks and uncertainties. Many factors could cause actual results to differ materially from those described in these forward-looking statements. The forward-looking statements in this release speak only as of this date and News Corp and Dow Jones undertake no obligation (and expressly disclaim any obligation) to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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News Corp Completes Acquisition of Investor's Business Daily
