Dow Jones & Co. said Wednesday that its television business pushed into the black for the first time ever in the latest fourth quarter and predicted that the business will continue to be profitable going forward.
The publisher didn’t break out its numbers but noted that it has built up the division — the second largest business-TV operation in the world — over the past seven years with a modest net investment of $90 million.
Dow Jones is partners with General Electric’s NBC in the CNBC business news cable network — branded as “a service of NBC and Dow Jones” — and takes a percentage of topline growth from advertising as well as a fixed licensing fee from the net’s U.S. operations. It owns 50% outright of CNBC Europe and CNBC Asia; the company also puts out syndicated weekly program “The Wall Street Journal Report.”
The company’s total earnings jumped 40% for the fourth quarter to $77.2 million.