Introducing the Goldman Sachs Industrial Average...

Monday, August 24, 2009 , 0 Comments

hanky by design glut

Might as well.

News Corp's (NWSA) Dow Jones & Co Inc is only in the early stages of exploring a sale of its stock market index business and a sales prospectus has not gone out yet, a source familiar with the matter said.

Goldman Sachs has been hired as a financial advisor to explore the options for the business, which includes the Dow Jones industrial average .DJI, according the source, who declined to identified because the process is private.

A Dow Jones spokesman could not be reached immediately for comment.

Rupert Murdoch's News Corp bought Dow Jones in 2007 for $5.7 billion, but since then he has come under criticism for paying such a hefty price for a publishing company whose businesses have suffered from the sharp drop in ad sales. Earlier this year, News Corp wrote down $2.8 billion in Dow Jones' value.

The move to explore options for the business is not surprising. Industry analysts never felt it was much favored by Murdoch, a passionate backer of newspapers and one of the best-known media moguls.

The Reformed Broker has some good suggestions for DJIA's rebranding.

Jr Deputy Accountant

Some say he’s half man half fish, others say he’s more of a seventy/thirty split. Either way he’s a fishy bastard.