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Dow Jones acquires full control of SmartMoney

By Published on .

New York—News Corp.'s Dow Jones & Co. officially confirmed that it has acquired the 50% of the SmartMoney franchise it did not already own from Hearst Corp.

Financial terms of the transaction were not disclosed.

In addition to SmartMoney magazine, the brand includes Smartmoney.com and a custom publishing unit called SmartMoney Custom Solutions. The deal ends a partnership between Dow Jones and Hearst that began in 1991.

“During this turbulent economy, when many readers are seeking long-term guidance on managing a variety of personal finance issues, the need for high-quality content in this space has never been greater. Having the SmartMoney franchise 100% integrated with the Dow Jones and Wall Street Journal teams will provide the avenues for the brand to grow exponentially,” Todd Larsen, Dow Jones president, said in a statement.

SmartMoney's print ad pages declined 22.9% last year compared with 2008, according to Publishers Information Bureau figures.

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