Hearst Sells SmartMoney Stake to Dow Jones

SmartMoneyLogo.jpgDow Jones acquired Hearst‘s 50 percent interest in SmartMoney — including SmartMoney magazine, SmartMoney.com, and custom-publishing division SmartMoney Custom Solutions — giving Dow Jones 100 percent ownership of the franchise. Terms were not disclosed.

SmartMoney had been a partnership between Dow Jones and Hearst since 1991.

Dow Jones president Todd Larsen said:

SmartMoney is a natural fit within Dow Jones, having carried brand association with The Wall Street Journal since its launch. SmartMoney is a trusted brand with high-quality editorial and a clear focus on personal-finance news and information. During this turbulent economy, when many readers are seeking long-term guidance on managing a variety of personal-finance issues, the need for high-quality content in this space has never been greater. Having the SmartMoney franchise 100 percent integrated with the Dow Jones and Wall Street Journal teams will provide the avenues for the brand to grow exponentially.

And Hearst Magazines president Cathleen P. Black added:

We’ve enjoyed the nearly 20-year relationship we’ve had with Dow Jones. SmartMoney magazine, SmartMoney.com, and Custom Solutions from SmartMoney will undoubtedly benefit as part of the Dow Jones portfolio of respected financial-media brands, and we are sure that they will continue to thrive under their leadership.