Owners of London weekly cash in with £27million deal

The owners of weekly financial newspaper Financial News look set to cash in following news that Dow Jones is to buy the title for £27 million.

Chief executive Angust MacDonald, who owns 25 per cent of the company, is expected to stay on as a consultant. He led a buy-out of the title in 1996.

The title is aimed at investment bankers working in the City of London and is understood to make most of its money from its website which has 40,000 paid subscribers.

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