×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: US | Dow | Indexes | CME | Group

CME Buys 90 Percent of DJ Index Unit for $607 Million

Wednesday, 10 February 2010 05:38 PM

Dow Jones & Co. is selling a 90 percent stake in its stock-market index unit to CME Group for $607.5 million.

The joint venture, announced by the companies Wednesday, will allow the Dow Jones industrial average to keep its famous name.

Dow Jones will retain a 10 percent stake in the business, which offers more than 130,000 stock indexes that are used as benchmarks by investors and licensed for use by mutual funds and other investment products.

Its best known index is the industrial average, which began as a basket of 11 stocks in 1884. Today, it includes 30 stocks including Caterpillar Inc., Microsoft Corp. and Wal-Mart Stores Inc., and is used as an indicator by investors around the globe.

Dow Jones & Co. is owned by Rupert Murdoch's News Corp.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


FinanceNews
Dow Jones Co. is selling a 90 percent stake in its stock-market index unit to CME Group for $607.5 million.The joint venture, announced by the companies Wednesday, will allow the Dow Jones industrial average to keep its famous name.Dow Jones will retain a 10 percent stake...
US,Dow,Indexes,CME,Group
131
2010-38-10
Wednesday, 10 February 2010 05:38 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved