Dow Jones & Co Posts $922.5 Million Charge Against Dow Jones Markets
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NEW YORK--A massive $922.5 million charge relating to the scaleback of Dow Jones Markets (DJM) forced parent Dow Jones & Co to post its first loss since 1963. Releasing 1997 earnings last week, the company said the DJM charge and other extraordinary items would result in a $928 million charge against fourth quarter earnings and a loss for the year of $889.3 million.
The bulk of the DJM charge is a non-cash writedown of goodwill to the tune of $850 million. The rest of the charge--$72.5 million-
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