By: Staff Reports
CBS, Data Broadcasting Raise Their Stakes
(The Hollywood Reporter) CBS and Data Broadcasting Corp. are expanding their stakes in
MarketWatch.com Inc. through a combined $86 million investment in the interactive
financial media company.
The transaction will expand each company’s stake in MarketWatch by 3% to 34.4%. CBS will
contribute $30 million in advertising and promotion and $13 million in cash. Data
Broadcasting, which is 60%-owned by Pearson Plc.’s Financial Times group, will contribute
$43 million in cash.
MarketWatch CEO Larry Kramer said the company will use the investment to expand its Internet,
TV, and radio businesses. ‘We looked at a number of attractive options when it came to
raising capital,’ he said. ‘This was clearly our best opportunity.’
MarketWatch operates a network of financial Web sites and a radio network and provides
content to CBS media properties.
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