AP, Dow Jones Extend Partnership
NEW YORK (AP) _ Dow Jones & Company and The Associated Press Friday announced a seven-year extension of their 30-year-old partnership producing international financial news services.
The extension, to the end of 2004, will allow more long-range product development, more consistent global branding and closer sales integration for their financial newswires which will now be branded as ``Dow Jones Newswires, produced in partnership with The Associated Press.″
The change will also enable Dow Jones Newswires to complete the integration of its staff of more than 700 reporters and editors worldwide. A similar integration of the sales and marketing staffs will provide more seamless service to 250,000 global subscribers to these financial newswires.
Dow Jones and AP emphasized that the seven year extension of their agreement, which has been renewed every two years in the past, underscores the closeness that has characterized their partnership since its start in 1967. Many of their offices outside the United States are co-located, and are expected to remain so.
Three years ago Dow Jones and AP began a second joint service, sending about 50 Dow Jones newswire stories per day to 150 newspapers in the United States over AP’s business news wire. That service is unaffected by the extension.
Dow Jones’ 1,300 reporters and editors, including more than 600 on the global staff of The Wall Street Journal, will continue to produce core financial and economic news, while the AP’s global network of more than 2,000 journalists will continue to supply the Dow Jones Newswires with market-relevant general and political news. AP recently, for example, has added to its editorial ranks in Southeast Asia, as political and economic events there have taken center stage for the world’s financial markets.
The renaming of the AP-Dow Jones News Services, which are primarily sold outside the United States, will make their branding consistent with the other Dow Jones Newswires sold both inside and outside the United States.
``This new structure permits consistent global branding in an era of global financial markets,″ said Paul Ingrassia, executive editor and chief operating officer of Dow Jones Newswires. ``We’re excited about the possibilities presented by the long-term extension of our strong relationship with AP as our partnership enters its fourth decade.″
``Extending the relationship with Dow Jones for a longer-term than in the past will enable both organizations to look at a broader horizon, and develop new services for the international financial community,″ said Claude Erbsen, AP vice president and director of World Services.
A membership cooperative founded in 1848, The Associated Press is the world’s oldest and largest newsgathering organization. Headquartered in New York, the AP has 144 bureaus in the United States and 93 abroad. It provides news, photos, graphics, video and multi-media services, and the technology to deliver these services to more than 15,000 newspapers and broadcast outlets worldwide.
In addition to the Dow Jones Newswires, Dow Jones & Company publishes The Wall Street Journal and its international editions, The Wall Street Journal Interactive Edition, Barron’s magazine and other periodicals, the Dow Jones Indexes, electronic information services and the Ottaway group of community newspapers.
Electronic information services include: Dow Jones Markets, a leading global provider of news and market information, decision-support applications, trading room systems and transaction services for financial institutions; and Dow Jones Interactive Publishing, which provides business information to corporations and consumers by computer, telephone, facsimile and radio. Dow Jones also produces international business television programming.