New York—McGraw-Hill Cos., owner of S&P Indices, and Chicago-based CME Group, 90% owner of the CME Group/Dow Jones & Co. Dow Jones Indexes joint venture, have agreed to create the S&P/Dow Jones Indices. This new joint venture is projected to generate annual revenue of more than $400 million.
S&P/Dow Jones Indices will be a unit of the new McGraw-Hill Markets, created from the split of McGraw-Hill Cos. into two public companies. McGraw-Hill will own 73% percent of S&P/Dow Jones Indices, CME Group will own 24.4% and Dow Jones will own 2.6%.
Alexander Matturri, executive managing director of S&P Indices, will be CEO of S&P/Dow Jones Indices.