NEW YORK, Aug. 28, 2006 (PRIMEZONE) -- Dow Jones & Company (NYSE:DJ) announced today that it is exploring value-creating alternatives for certain Ottaway community newspaper assets. Specifically, the Company is evaluating options for newspapers in six markets: Danbury, CT; Oneonta, NY; Plattsburg, NY; Santa Cruz, CA; Sunbury, PA; and Traverse City, MI. These options include cash sales and an exchange for other community newspapers. There can be no assurance that any transaction will take place or whether all of these newspapers would be involved. The purpose of the transaction would be to raise cash to repay debt and for investment in the Company's current businesses as well as utilize approximately $155 million of capital loss tax carry-forwards which expire at December 31, 2006. Additional details will be provided when and if actual transactions are entered into.
Dow Jones & Company (NYSE:DJ) (dowjones.com) publishes The Wall Street Journal and its international and online editions, Barron's and the Far Eastern Economic Review, Dow Jones Newswires, Dow Jones Indexes, MarketWatch and the Ottaway group of community newspapers. Dow Jones is co-owner with Reuters Group of Factiva and with Hearst of SmartMoney. Dow Jones also provides news content to CNBC and radio stations in the U.S.
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