Dow Jones & Company, owned by News Corporation, announced that it is acquiring the Hearst Corporation’s 50% interest in the SmartMoney franchise, bringing Dow Jones’ total interest to 100%. Financial details of the transaction will not be disclosed.
The SmartMoney franchise includes SmartMoney magazine, Smartmoney.com and SmartMoney Custom Solutions, a custom publishing division. SmartMoney has been a partnership between Dow Jones and Hearst since 1991.
“SmartMoney is a natural fit within Dow Jones, having carried brand association with The Wall Street Journal since its launch. SmartMoney is a trusted brand with high quality editorial and a clear focus on personal finance news and information. During this turbulent economy, when many readers are seeking long-term guidance on managing a variety of personal finance issues, the need for high quality content in this space has never been greater. Having the SmartMoney franchise 100% integrated with the Dow Jones and Wall Street Journal teams will provide the avenues for the brand to grow exponentially,” said Todd Larsen, president of Dow Jones & Company.
“We’ve enjoyed the nearly 20-year relationship we’ve had with Dow Jones. SmartMoney magazine, smartmoney.com and Custom Solutions from SmartMoney will undoubtedly benefit as part of the Dow Jones portfolio of respected financial media brands, and we are sure that they will continue to thrive under their leadership,” said Cathleen Black, President, Hearst Magazines.
Since its inception in 1992, SmartMoney has been aimed at the consumer financial information market, proving readers with practical ideas for saving, investing, and spending. The franchise claims a current print and online audience of nearly six million.