Dow Jones & Co.: The New York-based...
Dow Jones & Co.: The New York-based media company said first-quarter profit nearly doubled to $200 million from a year ago because of a big one-time gain from the sale of a cable television investment. But weakness in financial advertising drove its operating income down by 12.5%. Revenue rose 3.6% to $406.8 million. The latest results included an after-tax gain of $164.1 million from the sale in January of the company’s 17% stake in Continental Cablevision Inc., a cable system operator. The 1988 results included a gain of $64.4 million from the sale of a book publishing subsidiary, Richard D. Irwin Inc.
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