Dow Jones & Company Announces Purchase of Two Community Newspaper Properties.Business Editors NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY--(BUSINESS WIRE)--October 1, 2002 Dow Jones & Company today announced that its Ottaway Newspapers division has agreed to purchase two publications in southern Oregon from Lee Enterprises, Inc. Terms of the transaction weren't disclosed. They are the Ashland Daily Tidings The Ashland Daily Tidings is an afternoon newspaper serving the city of Ashland, Oregon, United States. Like its sister publication, the Medford-based Mail Tribune, it is part of the Ottaway Community Newspapers chain, a subsidiary of Dow Jones. , an afternoon newspaper with daily paid circulation of 5,100, and the Nickel, a classified-advertising supported publication in Medford with weekly distribution of 30,000. These acquisitions are part of Dow Jones' strategy of enhancing earnings growth in the Ottaway portfolio of daily and weekly newspapers and special advertising publications. John Wilcox, executive vice president of Ottaway, said: "We are delighted to have the opportunity to serve the very special Ashland community with quality content the readers can use. The Daily Tidings has been an important part of the Ashland area for 127 years, and we fully intend to build upon that tradition. The Nickel is a very useful resource for the residents of Jackson and Josephine counties." He added that both publications will complement reader and advertising markets served by the Medford Mail Tribune, a 27,000 paid circulation daily published by Ottaway. After the purchase, Ottaway will publish 13 daily and over a dozen weekly newspapers in 10 states. Ottaway is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Dow Jones & Company, publisher of The Wall Street Journal. With the sale, Lee will own 38 daily newspapers and a joint interest in six others. Lee also owns more than 175 weekly newspapers, shoppers and classified and specialty publications, along with associated online services. Lee is based in Davenport, Iowa. In addition to the Ottaway group of community newspapers, Dow Jones & Company (NYSE NYSE See: New York Stock Exchange : DJ; dowjones.com) publishes The Wall Street Journal and its international and online editions, Barron's and the Far Eastern Economic Review, Dow Jones Newswires Dow Jones Newswires is the real-time financial news organization owned by Dow Jones. Founded in 1882, its primary competitors are Bloomberg L.P. and Reuters. The company reports more than 420,000 subscribers -- including brokers, traders, analysts and fund managers -- as of July , and Dow Jones Indexes. Dow Jones is co-owner with Reuters Group of Factiva, with Hearst of SmartMoney and with NBC NBC in full National Broadcasting Co. Major U.S. commercial broadcasting company. It was formed in 1926 by RCA Corp., General Electric Co. (GE), and Westinghouse and was the first U.S. company to operate a broadcast network. of CNBC CNBC Center for the Neural Basis of Cognition (artificial intelligence) CNBC Consumer News and Business Channel CNBC Congress of National Black Churches, Inc. television operations in Asia and Europe. Dow Jones also provides news content to CNBC and radio stations in the U.S. |
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