Todd Spangler NY Digital EditorNews Corp plans to acquire stock-analysis and research publication Investor’s Business Daily for $275 million.IBD, which launched as Investor’s Daily in 1984, is a “high margin, profitable” business, according to News Corp, the conglomerate controlled by Rupert Murdoch.
The 130-employee IBD will be operated by News Corp’s Dow Jones subsidiary and will continue to be based out of Los Angeles.The deal is subject to regulatory approval and other closing conditions.
News Corp expects to close the IBD acquisition by the end of June 2021. News Corp is buying IBD from O’Neil Capital Management, private fund management company headed by William J.
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