Summary:

Dow Jones has unloaded its stake in European index provider Stoxx — in what is likely the first of several divestitures for the company und…

Stoxx

Dow Jones has unloaded its stake in European index provider Stoxx — in what is likely the first of several divestitures for the company under owner News Corp (NYSE: NWS). Dow Jones is selling its one-third interest in Stoxx, which operates the Dow Jones Stoxx Indices, to partners Deutsche Boerse and SIX Swiss Exchange for $309 million, in addition to $44 million depending on its “future business performance.”

Dow Jones is trying to sell its entire indexing business, which includes the Dow Jones Industrial Average, and, in a statement, Dow Jones CEO Les Hinton hints at that larger effort, saying the sale of Stoxx is a “result of a strategic evaluation of Dow Jones’ index businesses.” The WSJ reported in August that the business could be valued at upwards of $700 million.

In September, Dow Jones also sold news syndicator Screaming Media to content management firm YellowBrix.

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By Joseph Tartakoff

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