Reuters Sells Factiva to Dow Jones


Dow Jones is to buy Reuters' 50 percent stake in Factiva, the news joint venture co-founded by the two companies in 1999, the vendors announced last week. The deal, still subject to regulatory approval, should close before the end of 2006.

Dow Jones will pay $160 million for Reuters' stake, with $153 million in cash funded through the sale of up to six local newspapers, and $7 million in preferred stock. Reuters will also collect half of the cash left on Factiva's balance sheet when the deal

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