Dow Jones Announces Strategic Alliance With Efe
Dow Jones, a provider of global business news and global information services, has signed a strategic alliance with Agencia EFE, the world's fourth-largest news agency and the first one in the Spanish-speaking world.. Together they will develop an exclusive joint Spanish-language news service -- EFE Dow Jones News -- to serve financial professionals, corporations, media, institutions and private investors in Spain. It is not yet clear whether the service will also be offered in the U.S. Hispanic market.
Dow Jones has long been active in Latin America through the publication of The Wall Street Journal Special Editions in leading Latin American newspapers.
Since 2003, it has also published special editions in newspapers catering to the U.S. Hispanic market.
Strong emphasis on Spain
The new real-time newswire will draw upon the comprehensive coverage of Spanish companies and policy-making in EFE's economic service, EFECOM, and the international financial and market reporting of Dow Jones en Espanol to offer clients expanded coverage of Spanish business, including regional reporting and analysis of small and mid-cap stocks. The joint service will be based in Madrid and will also have a dedicated editorial staff to produce original content in Spanish.
"This agreement with EFE, the recent acquisition of Betten Financial News BV, the Dutch-language news service and, the arrangement enabling Dow Jones Newswires to distribute editorial content from Agence France-Presse all underscore our broader strategy to invest in expanding our global editorial assets. We're dedicated to increasing our coverage of local markets in local languages, and forging this alliance helps us to better serve the needs of our Spanish-language customers," said Clare Hart, Executive Vice President, Dow Jones & Company, President, Dow Jones Enterprise Media Group. "Ultimately, the agreement with EFE will further Dow Jones's dedication to powering intelligent enterprises globally and providing our customers with the information they need to make better decisions, faster."
"This agreement with Dow Jones, one of the most prestigious agencies in the world, underlines the editorial independence and rigour of EFE as well as the quality of our information offering," said the President of EFE, Alex Grijelmo. "In addition, it will allow us to gain access to new markets and gain visibility and competitiveness into the demanding financial news service market. With this alliance, we feel we will now offer customers the strongest and most comprehensive Spanish-language service in the market."
The official presentation of EFE Dow Jones is expected in late October 2008, when the new service is to be launched.
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