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News Corp. Buys Investor’s Business Daily for $275 Million

  • Murdoch’s company acquires IBD from O’Neil Capital Management
  • Acquisition aims to help investors pick top-performing stocks
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Rupert Murdoch’s News Corp., publisher of the Wall Street Journal, agreed to acquire Investor’s Business Daily, adding to its portfolio of business publications.

News Corp. will pay $275 million to buy the financial news and research business from O’Neil Capital Management. News Corp.’s Dow Jones subsidiary will run the business, which was founded in 1984 by William J. O’Neil and has about 130 employees. It will continue to operate as a standalone brand, based in Los Angeles.