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
, 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.