We told you last week about rumours that Dow Jones & Company was in talks to take over Hearst Corporation’s half of SmartMoney, the finance magazine and website.
The companies officially announced today that Dow Jones would be taking over the SmartMoney properties 100%.
SmartMoney: “The Wall Street Journal Magazine” has been a split production from both companies, with Hearst dealing with business aspects, while Dow Jones held up the editorial side. They have been partners in the project since 1991.
Todd Larson, the recently appointed president of Dow Jones & Company, said in a statement: “SmartMoney is a natural fit within Dow Jones, having carried brand association with The Wall Street Journal since its launch,” he said. “SmartMoney is a trusted brand with high quality editorial and a clear focus on personal finance news and information. During this turbulent economy, when many readers are seeking long-term guidance on managing a variety of personal finance issues, the need for high quality content in this space has never been greater. Having the SmartMoney franchise 100% integrated with the Dow Jones and Wall Street Journal teams will provide the avenues for the brand to grow exponentially.”
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