Dow Jones’ new DJX product to take aim at Bloomberg
by Chris Roush
News Corp. held an investor meeting on Tuesday where the soon-to-be-split company discussed its future, and its Dow Jones & Co. subsidiary unveiled a product called DJX aimed at rival Bloomberg.
An Associated Press story states, “Analyst Todd Juenger of Bernstein Research said the stock market was putting little to no value on the publishing side in a research note Tuesday.
“He valued 21st Century Fox at $34 per share— slightly higher than the $33.24 News Corp. shares closed at Tuesday — and $6 per share for the publishing unit.
“He suggested buying shares now to get publishing unit shares ‘’for free,’’ or waiting to ‘’scoop up’’ publishing shares in case there is a sell-off on June 28, the date of the split. ‘’If new News gets left for dead … then scoop up new News at a bargain price,’ he recommended.
“Dow Jones CEO Lex Fenwick also talked about new products that take aim at Bloomberg’s financial data and news services in Tuesday’s presentation. A product called DJX will include a wire service that gives institutional subscribers a 2-minute head start on news broken by The Wall Street Journal and Dow Jones reporters.
“Fenwick said the new News Corp. has a ‘’huge opportunity’ if it can expand on its less than 1 percent market share of what he said was $40 billion in spending every year by financial institutions on such niche data and news platforms.”
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