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Dow Jones Selling Unit to Platinum Equity

Bloomberg News

Dow Jones & Co. said it will sell its IDD Enterprises data subsidiary to Los Angeles-based Platinum Equity Holdings for an undisclosed price, the second sale this week of a unit by the publisher of the Wall Street Journal. Terms weren’t disclosed. IDD provides stock market quotes and company data for U.S. and international markets through its Tradeline databases. Dow Jones said the sale will result in a fourth-quarter charge. New York-based Dow Jones bought IDD in 1995 and sold the unit’s print publications, including Investment Dealer’s Digest, in 1997. The company said it’s selling IDD as part of a plan to focus on its main businesses. Three days ago, the company said it would sell its Dow Jones Financial Publishing Corp. division. Dow Jones shares rose 31 cents to close at $67.81 on the New York Stock Exchange. Platinum Equity is closely held.


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