News Corp in talks to buy other 50 percent of SmartMoney from Hearst Corp
By APTuesday, February 23, 2010
News Corp discusses buying rest of SmartMoney
NEW YORK — News Corp.’s Dow Jones unit says it’s in talks to buy the 50 percent of SmartMoney magazine that its partner Hearst Corp. owns.
The two have shared ownership of the personal finance magazine since 1991. The magazine published its first issue a year later.
Dow Jones & Co., the owner of the Wall Street Journal, says the partners are in talks to transition SmartMoney to 100 percent Dow Jones ownership.
It plans to align SmartMoney with its other personal finance properties. Possible alliances include the Journal, Barron’s, MarketWatch and FiLife, which Dow Jones owns with IAC/InterActiveCorp.
News Corp. Class A shares were down 28 cents, or 2.1 percent, at $13.21 in afternoon trading on Tuesday.
