Dow Jones & Co. last month announced the cutting of 97 positions in its electronic publishing business, two days after it completed its $528 million acquisition of MarketWatch. "MarketWatch From Dow Jones" will operate side by side with wsj.com, The Wall Street Journal's Web site. MarketWatch Chairman-COO Larry Kramer will serve as a consultant to Dow Jones to support postmerger integration efforts and new-product development projects.
Blackstone, Krakoff to work on deals
The Blackstone Group, a global investment company, announced it has entered into an agreement with Robert Krakoff, former Advanstar chairman-CEO, to acquire b-to-b media companies. Krakoff's company is Blantyre Partners. The capital for investments will be provided by Blackstone Capital Partners IV, a $6.5 billion fund, and Blackstone Communications Partners I, a $2.0 billion fund focused on investments in the media and communications industries.
ThomasNet.com integrates register
Thomas Industrial Network, a unit of Thomas Publishing Co., has integrated the Thomas Register of American Manufacturers (ThomasRegister.com) into its new Web site, ThomasNet.com. The Web site brings together the Thomas Register and Thomas Regional Buying Guides. ThomasNet.com is designed to function as an industrial search engine. The site includes more than 20 million CAD drawings and more than 650,000 distributors, manufacturers and service companies.