Data Broadcasting Corp., a provider of real-time financial market data to traders and individual investors, agreed to merge with the specialist asset valuation business of the Financial Times group, part of Pearson PLC, the international media company. Data Broadcasting owns approximately 32% of MarketWatch.com, which operates CBS.MarketWatch.com, a financial information Web site. Through its shareholding in Data Broadcasting, the Financial Times group will form a marketing alliance with MarketWatch.com to cross-promote CBS.MarketWatch.com and ft.com, an international business information Web site. The transaction is expected to be completed early in 2000.
Copyright November 1999, Crain Communications Inc.