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Administration August 21, 2009
A New Name for the DJIA?
August 21, 2009 (PLANSPONSOR.com) - The Dow Jones
Industrial Average (DJIA), long an iconic measure of the
stock market's performance, may soon have a new
name.
Reported by Fred Schneyer
A Wall Street Journal report said Dow Jones & Co. Inc. has held exploratory talks with potential buyers for its equity indexing property in a process conducted by Goldman Sachs. The news report indicated the talks could lead to a joint venture or some other type of corporate combination.
According to the Journal, the indexes business — which creates and licenses indexes for use on mutual funds, exchanged-traded funds, and other products — is a relatively stable and profitable unit for Dow Jones.
For the nine months ending September 2007, the last period reported by the then-independent company, the index unit posted revenues of $101 million. The DJIA was introduced in 1884.
The Journal said representatives from Dow Jones, the News Corporation and Goldman Sachs all declined to comment.