Telerate, With Growing International Revenues, Buys Out Partners In Overseas Joint Venture

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Telerate, Inc. reached agreement in principle to buy out its minority partners in AP-Dow Jones/Telerate Co., its international joint venture. With its growth increasingly coming from outside the United States, Telerate's move will channel all of its overseas revenues and earnings directly into its treasury.

Telerate owns 50.4 per cent of AP/Dow Jones Telerate, with the Associated Press and Dow Jones each owning 24.8 per cent. The deal calls for Telerate to buy AP's stake for $65 million -- $6