Dow Jones buys Reuters out from Factiva

Dow Jones is to buy up the 50% of the online news archive service, Factiva, it does not already own from Reuters for $160m (£85.4m). Dow Jones, publisher of the Wall Street Journal, and Reuters started Factiva together in 1999. The rival news companies said they expected the deal to close by the end of the year, once it receives regulatory approval. Dow Jones ceo Rich Zannino says the acquisition nearly doubles the size of the company's online division. Factiva , with an estimated revenue for 2006 of about $290m (£155m), has 1.6m paying subscribers. (Via Paid Content)