Dow Jones share price soars as reports of sell-off resurface

LONDON - Shares in Wall Street Journal publisher Dow Jones & Co rose almost 9% today following reports that some of the company's leading shareholders are pushing for the sale of the company.

The New York Post said in a report that younger members of the Bancroft family, which controls Dow Jones, are looking to sell the business because it would double the value of their holding.

A spokeswoman for Dow Jones was not immediately available for comment.

Management at Dow Jones refused to back down after they came under pressure from shareholders to sell the company after its share price dropped earlier this year.

Dow Jones owns leading global business publication The Wall Street Journal and its international and online editions, The Wall Street Journal Europe, The Asian Wall Street Journal as well as the weekly magazine Barrons and its guides.

The company's strategic alliances include Factiva, a joint venture with Reuters.

Until recently, it also had an alliance with CNBC, and jointly owned CNBC Europe and CNBC Asia-Pacific and owned a quarter of digital station CNBC World, until it decided to pull out of the loss-making venture.  

Dow Jones said its share of losses from the three channels totalled $17m (£9.7m) in 2004. It is to take a $36.7m charge when it writes off the assets.

Peter Kann, chairman and chief executive officer of Dow Jones, said the ending of international ties with CNBC was aimed at improving profits.

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