Dow Jones Begins Work on Upgrade of Times Square "Zipper"; Famed News Headline Sign Will Be Off Until Mid-Summer.NEW YORK--(BUSINESS WIRE)--April 30, 1997--Dow Jones & Company (NYSE NYSE See: New York Stock Exchange : DJ) announced that the "zipper zipper Device for binding the edges of an opening, as on a garment or a bag. A zipper consists of two strips of material with metal or plastic teeth along the edges, and a sliding piece that interlocks the teeth when moved in one direction and separates them again when moved " headline sign in Manhattan's Times Square will be taken out of service Monday, May 5, to allow work to begin on installing a state-of-the art replacement. The sign is scheduled to be back in operation in July. Utilizing decades-old technology employing incandescent light bulbs to form letters, the zipper has been flashing news headlines in Times Square since 1928, with some interruptions. In February, Dow Jones Dow Jones the best known of several U.S. indexes of movements in price on Wall Street. [Am. Hist.: Payton, 202] See : Finance , publisher of The Wall Street Journal and 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 , signed a new lease to operate the zipper and announced that it had contracted with Artcraft Strauss Sign Corp. for a new sign. It will be manufactured by Daktronics Inc. of Brookings, S.D. The new sign will employ advanced solid-state LED and microprocessor technology, which will improve the clarity, speed and reliability of the display. "Dow Jones is pleased to be upgrading this historic Times Square sign," said Kenneth L. Burenga, president of Dow Jones. "The new, improved zipper will provide people in the revitalized midtown area with the latest news for a long time to come." Dow Jones began operating the news sign that wraps around the 22-story building at 1 Times Square in June 1995. With additional feeds from the Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. and ESPN's SportsTicker, Dow Jones provides a mix of business, general and sports news, as well as time and weather reports 24 hours a day. Dow Jones and the owners of 1 Times Square, Sherwood Equities and Lehman Brothers Lehman Brothers Holdings Inc. (NYSE: LEH), founded in 1850, is a diversified, global financial services firm. It is a participant in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking. , are donating the old zipper to the Museum of the City of New York The Museum of the City of New York is an art gallery and history museum founded in 1923 to present the history of New York City and its people. In 1982, the Museum received The Hundred Year Association of New York's Gold Medal Award "in recognition of outstanding contributions to , where a section of the sign will be on display beginning May 18. In addition to The Wall Street Journal and its international editions, Dow Jones publishes The Wall Street Journal Interactive Edition, Barron's magazine and other periodicals, electronic business information services See Information Systems. and the Ottaway group of community newspapers. Electronic information services include Dow Jones Markets, a provider of real-time financial information to the international business community; and Dow Jones Interactive Publishing, which provides business information to corporations and consumers by computer, telephone, facsimile and radio. Dow Jones also produces business television programming in the U.S. and abroad. CONTACT: Sanford Jacobs, 212/416-2606 |
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