McGraw-Hill, CME Group form joint venture
July 2, 2012, 12:16 pm EDT
New York—McGraw-Hill Cos. and CME Group have formed a joint venture called the S&P Dow Jones Indices. Properties of the new company will include the Dow Jones industrial averages, the S&P 500, the S&P/Case-Shiller Home Price Indicies and other indices.
S&P Dow Jones Indices will operate as part of the new McGraw-Hill Financial Co. after McGraw-Hill Cos. is separated into two public companies later this year. Alexander Matturri, who had been executive managing director of S&P Indices, is the CEO of S&P Dow Jones Indices.
McGraw-Hill owns 73.0% of the S&P Dow Jones Indices, while the CME Group owns 24.4%. Dow Jones & Co. indirectly owns 2.6% of the new company. Revenue in 2011 for the businesses that now make up the S&P Dow Jones Indices was $421 million.