Dow Jones Drops Revamp Plan; Sale In The Offing?
ORGANIZATION & MANAGEMENT
NEW YORK--It's all over, bar the screaming.
Dow Jones & Co. last week pulled the plug on its ambitious $650 million plan to rebuild its Dow Jones Markets unit. The company said it plans to reduce Markets' staff by between 200 and 300, and expects to post "a very sizable charge" against earnings in the fourth quarter, resulting in "a large net loss" for 1997, the first annual operating deficit since the company went public in 1963.
While Dow Jones says it is continuing its review of alternatives
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