Dow Jones Nears Deal to Sell ‘the Dow’


The Journal reports that the CME Group, (the futures trading organization comprised of the Chicago Mercantile Exchange and the Chicago Board of Trade) is “close to putting the finishing touches on a deal” to purchase Dow Jones & Co.’s stock-indexing business, a.k.a. the 114-year-old Dow Jones Industrial Average, for around and about $600 million. According to the Journal, under the terms of the deal the CME has promised to continue “using the Dow Jones name in its investment products,” but that language sounds suspect to us, and look what they did to the Chicago Board of Trade! Hopefully they’ll keep the change simple and easy to remember, i.e., instead of calling it the “CME Dow Jones Industrial Average” or something, we can all just call it “the Cow” going forward. [WSJ]