CME Buys 90% of Dow Jones Indexes

CME Group agreed to take a 90% ownership interest in a new joint venture that will own Dow Jones Indexes including the Dow Jones Industrial Average.
Author:
Publish date:

CHICAGO (

TheStreet

) --

CME Group

(CME) - Get Report

agreed to take a 90% ownership interest in a new joint venture that will own Dow Jones Indexes including the

Dow Jones Industrial Average

.

The sale price was $607.5 million.

Dow Jones, a unit of

News Corp.

(NWS) - Get Report

, will retain a 10% stake in the venture. The deal provides for the joint venture to license the Dow Jones name for the new index services business on a long-term basis.

Dow Jones Indexes has about 130,000 stock indexes that it licenses to investors, such as mutual funds.

Dow Jones began looking for a

buyer for the business

in late summer 2009.