Story Of The Year 1998: Bridge Buys Telerate For Half A Billion Dollars
YEAR IN REVIEW
The sale of Dow Jones Markets to Bridge for $510 million, announced in March and official in May, established the relative newcomer Bridge as the No. 2 player behind Reuters in an information industry that became consolidated into three global real-time data vendors.
The sale followed a bidding war begun after Dow Jones Markets' decision to abandon the $650 million revamp plan, a decision made, according to the sales prospectus that was circulating, because: "It became apparent … that the
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