Dow Jones is set to acquire London-based investment banking newspaper Financial News for approximately $53 million, according to Telegraph UK, which said an announcement could be made within days.
In addition to its weekly print version, the Financial News has its own real-time financial news site, eFinancialNews with around 40,000 subscribers. The company was founded by a group of London business journalists in 1990s.
Last year eFinancialGroup, a sister company to Financial News, sold its jobs website eFinancialCareers.com to U.S.-based online recruiter Dice, which is owned by General Atlantic Partners and Quadrangle, for about $94 million.
Related:
—eFinancialNews Bought By Investor Group; eFinancialGroup Brought Separately By Dice