Complete coverage on

Dow Jones & Co. Inc.

Latest Stories

CNNMoney: Wall Street Journal Europe executive out in circulation scandalupdated: Thu Oct 13 2011 15:05:00

A top executive at the company that publishes the Wall Street Journal left this week amid allegations that the paper's European edition used underhanded methods to boost circulation figures, the newspaper itself reported Thursday.

Wall Street Journal Europe executive out in scandalupdated: Thu Oct 13 2011 12:57:00

A top executive at the company that publishes the Wall Street Journal left Dow Jones this week amid allegations that the paper's European edition used underhanded methods to boost circulation figures, the newspaper itself reported Thursday.

News Corp questioned over circulation numbersupdated: Thu Oct 13 2011 08:05:00

News Corp is facing fresh questions about its newspaper operations, after allegations that circulation figures for the European edition of the Wall Street Journal were boosted by complex cut-price deals with a sponsor to which it had promised editorial coverage.

Fortune: War at the Wall Street Journal: The Bancrofts, the board, and Murdochupdated: Tue Dec 21 2010 10:51:00

Editor's note: This week FORTUNE is publishing excerpts from its favorite business books of 2010. Today we revisit Sarah Ellison's blow-by-blow account of how media baron Rupert Murdoch wrested the Wall Street Journal away from the family that had controlled it for over 100 years.

CNNMoney: The planes, trains and automobiles rallyupdated: Tue Sep 15 2009 13:26:00

If you're looking for confirmation that this stock market rally might actually be for real, look no further than the stodgy world of transportation.

CNNMoney: Dow Jones seeks buyers for indexesupdated: Fri Aug 21 2009 17:10:00

Dow Jones & Co. is looking to sell its stock-market index business, according to The Wall Street Journal.

CNNMoney: Jobs report to give stocks a boostupdated: Fri Aug 07 2009 08:42:00

Stocks looked set for a positive start Friday after a key report showed a sharp drop in the number of people losing their jobs and a surprise drop in the unemployment rate.

CNNMoney: Stocks start June with a bangupdated: Mon Jun 01 2009 17:49:00

Stocks rallied Monday, sending the Dow Jones industrial average near the breakeven point for the year, as better-than-expected readings on manufacturing activity raised hopes that a global economic recovery is brewing.

CNNMoney: Forget banks, keep an eye on trucksupdated: Fri Apr 10 2009 21:07:00

Earnings take center stage next week and everybody's going to be focused on how the banks will do.

CNNMoney: Stocks struggle after jobs reportupdated: Fri Apr 03 2009 09:45:00

Stocks struggled higher Friday morning as investors eyed a wretched March jobs report at the end of another up week on Wall Street.

CNNMoney: Stocks at 12-year lowsupdated: Tue Mar 03 2009 18:45:00

The Dow Jones industrial average and S&P 500 ended at fresh 12-year lows Tuesday as Wall Street failed to mount a rally amid ongoing worries about the financial markets and the recession.

CNNMoney: Cheap stocks - if the economy isn't brokenupdated: Tue Mar 03 2009 10:31:00

With the Dow Jones Industrial Average below 7,000, the U.S. stock market is well below its early-1995 level, adjusted for changes in nominal GDP.

CNNMoney: Stocks rally after routupdated: Tue Mar 03 2009 09:47:00

Stocks gained Tuesday morning, bouncing after the previous session's bloodletting in which the Dow Jones industrial average closed below 7,000 for the first time since 1997.

CNNMoney: Wall Street starts with a thudupdated: Fri Oct 24 2008 09:39:00

U.S. stocks joined a worldwide selloff at Friday's open, with the Dow down about 400 points, as a wave of anxiety about a global recession sent investors heading for the exits. Stocks Head for Decline on Recession Fearsupdated: Fri Oct 24 2008 08:00:00

Wall Street headed for another precipitous drop Friday as fears of a punishing global recession stirred panic among investors and sent world financial markets into a tailspin

CNNMoney: Stocks pull back at openupdated: Tue Oct 21 2008 09:47:00

Stocks slipped Tuesday morning, as investors backtracked after the previous session's big 413-point rally for the Dow Jones industrial average.

World economic crisisupdated: Mon Oct 20 2008 16:56:00

CNN's Ralista Vassileva talks to Lakshman Achuthan about the world economic crisis.

Europe, U.S. stocks follow Asian gainsupdated: Mon Oct 20 2008 16:56:00

World stock prices climbed sharply Monday as governments continued to pump money into markets in an attempt to stabilize them amid the throes of the financial crisis. Stocks Fall on Inflation Data, Financial Worriesupdated: Tue Aug 19 2008 12:00:00

Stocks fell sharply Tuesday after a hefty jump in wholesale inflation and a drop in new home construction gave investors more reasons to believe the economy won't rebound anytime soon

CNNMoney: Stocks stage recoveryupdated: Tue Jul 08 2008 17:44:00

Stocks surged Tuesday, with falling oil prices and a stronger dollar giving investors an incentive to scoop up financial services and other shares hit in the recent selloff.

CNNMoney: Stocks trim gains after Fedupdated: Wed Jun 25 2008 17:54:00

Stocks gave up bigger gains by the close Wednesday, as investors welcomed the Fed's decision to hold rates steady, as expected, but remained wary about the economy.

CNNMoney: Stocks slide anewupdated: Fri Feb 22 2008 10:37:00

Stocks slipped Friday morning, with financial and technology shares leading the decline, as investors remained uneasy after the previous day's losses.

CNNMoney: Dow industrials add Bank of America, Chevronupdated: Mon Feb 11 2008 13:37:00

The Dow Jones industrial average is adding Bank of America and Chevron, replacing Honeywell and Altria.

CNNMoney: SEC charges 4 with Dow Jones insider tradingupdated: Tue Feb 05 2008 13:32:00

The Securities and Exchange Commission announced Tuesday it had reached a $24 million settlement with a former Dow Jones & Co. board member and three Hong Kong residents in an insider trading suit.

Fortune: How to make money on volatilityupdated: Wed Jan 30 2008 03:56:00

Wild swings have been the norm in the stock market lately - as you may have noticed - with the Dow Jones industrial average posting triple digit moves nearly every trading day since the beginning of the year.

CNNMoney: Oil rises on stimulus packageupdated: Thu Jan 24 2008 13:28:00

Oil prices rose Thursday after Congressional leaders and White House officials announced an economic stimulus package, easing some of the market's fears that a downturn will crimp demand.

Business bulletinupdated: Thu Dec 13 2007 21:04:00

The latest in business news with the business bulletin.

Fortune: Watching MarketWatch's futureupdated: Tue Dec 04 2007 11:11:00

Among the prizes that Rupert Murdoch gets when the Dow Jones deal closes next month will be a highly trafficked Web site that could boost his fledgling Fox Business Network - and it has nothing to do with the Wall Street Journal.

CNNMoney: Stocks fall back in early tradeupdated: Tue Dec 04 2007 09:33:00

U.S. stocks retreated early Tuesday as investors remained jittery about the nation's economy.

CNNMoney: Stocks mixed after rallyupdated: Thu Nov 29 2007 12:58:00

Stocks turned mixed early Thursday afternoon, recovering from early losses, but failing to hold on to gains, as investors weighed higher oil prices, weak home sales and mixed economic news following a big two-day rally.

CNNMoney: Stocks ease after advanceupdated: Thu Nov 29 2007 11:07:00

Stocks inched lower Thursday morning, as higher oil prices and weak home sales gave investors a reason to retreat after a two-day rally that lifted the Dow industrials by nearly 550 points.

CNNMoney: Stocks stumble after rallyupdated: Thu Nov 29 2007 10:18:00

Stocks slipped Thursday morning, with rising oil prices and another weak reading on home sales giving investors a reason to backtrack after a two-day rally that lifted the Dow industrials by nearly 550 points.

CNNMoney: Managing your 401(k)updated: Wed Oct 24 2007 09:38:00

The Dow Jones had its third worst day of the year on Friday. Add to that worries about the economy and estimates that by 2017, Social Security will start paying out more in benefits than it collects every year in taxes.

CNNMoney: Stocks push further aheadupdated: Thu Oct 11 2007 09:36:00

Stocks advanced in early trading Thursday, moving into record territory, on a narrower-than-expected trade gap and strength in overseas markets.

CNNMoney: Stocks take a breatherupdated: Wed Oct 10 2007 09:36:00

Stocks eased slightly in early trading Wednesday as investors took step back from the advance that put major indexes into record territory.

CNNMoney: Stocks slip after rallyupdated: Mon Oct 08 2007 14:16:00

Stocks struggled Monday afternoon as investors took a step back after last week's rally and prepared for the first batch of quarterly earnings reports, due later this week.

CNNMoney: Stocks edge upward at openupdated: Thu Oct 04 2007 09:32:00

Stocks rose cautiously early Thursday, a day ahead of the key September jobs report.

CNNMoney: Jittery stocks pull backupdated: Mon Sep 24 2007 21:32:00

Stocks retreated early Tuesday amid new concerns about the housing slump and consumer spending.

Fortune: Bancroft-Dow Jones deal sweeter than you thinkupdated: Mon Sep 24 2007 02:22:00

Rupert Murdoch's takeover of Dow Jones, owner of the Wall Street Journal, has gotten OJ-like coverage by us business-news types. Yet here I am, writing about it yet another time. Why? Because I'm interested in one little-noticed detail - the way selected Dow Jones shareholders will be able to defer taxes on their gains by getting $60 a share worth of News Corp. stock rather than cash.

CNNMoney: Journal reporters reach dealupdated: Mon Sep 17 2007 08:03:00

Dow Jones & Co. has reached a tentative deal on a new contract with the union representing reporters at The Wall Street Journal, ending several months of sometimes contentious talks.

CNNMoney: Stocks struggle Friday morningupdated: Thu Sep 13 2007 23:01:00

Stocks slipped Friday morning, but trimmed bigger early losses sparked by a weak retail sales report that raised worries that the turmoil in financial markets is spreading to the broader economy.

CNNMoney: Disgruntled reporters take to the streetsupdated: Mon Sep 10 2007 04:39:00

Reporters from The Wall Street Journal picketed outside of the newspaper's headquarters building Monday to protest the most recent labor contract proposals, including higher health care payments, from Dow Jones & Co., the paper's parent company.

CNNMoney: Stocks retreat in early goingupdated: Tue Sep 04 2007 22:15:00

Stocks slumped Wednesday, retreating after the recent rally, as investors eyed a weak reading on private sector employment, a big drop in pending home sales and ongoing problems in the financial sector.

CNNMoney: Stock dip after rallyupdated: Mon Aug 27 2007 03:29:00

Stocks slipped Monday after a disappointing existing home sales report revived worries about the mortgage and credit markets.

CNNMoney: Wall St.: Rally, then retreatupdated: Mon Aug 27 2007 02:28:00

A disappointing existing home sales report sent stocks lower Monday afternoon, reviving investor worries about the mortgage and credit markets.

CNNMoney: Stocks slip on credit woesupdated: Mon Aug 20 2007 22:47:00

Stocks slipped Tuesday morning as investors mulled ongoing problems in the credit and mortgage markets and opted to put their money in the relatively safer haven of bonds.

Dow Jones VP plans to quitupdated: Mon Aug 20 2007 22:38:00

Dow Jones & Company, Inc. Vice President Paul Ingrassia said Monday he plans to quit, making him the first top executive to leave since News Corp. said it would buy The Wall Street Journal publisher.

CNNMoney: Dow manages comebackupdated: Mon Aug 20 2007 06:00:00

The Dow Jones industrial average staged a comeback Monday, recovering from an earlier selloff sparked by renewed worries about the credit and mortgage markets.

Fortune: The REAL reason the Bancrofts lost Dow Jonesupdated: Mon Aug 20 2007 01:29:00

If you care about business news, you know by now that Rupert Murdoch has won control of the Wall Street Journal.

CNNMoney: Don't bet on a 'paper' chaseupdated: Thu Aug 02 2007 00:52:00

News Corp.'s acquisition of Dow Jones is the latest in a flurry of newspaper deals that have taken place over the past few years.

CNNMoney: Stocks move higher at middayupdated: Thu Aug 02 2007 00:01:00

Stocks gained in midday trade Thursday, as investors weighed positive earnings news, lingering subprime fears and an uptick in the price of oil.

CNNMoney: Signs point to done Dow Jones dealupdated: Wed Aug 01 2007 08:39:00

News Corp. was expected to reach a definitive agreement to buy Dow Jones & Co. Inc. for $5 billion late Tuesday, capping Rupert Murdoch's three-month pursuit of the publisher of The Wall Street Journal, a source familiar with the matter said.

Murdoch, Dow Jones reach dealupdated: Wed Aug 01 2007 00:58:00

Murdoch, Dow Jones reach deal

CNNMoney: Stocks on roller-coaster rideupdated: Tue Jul 31 2007 23:42:00

Stocks turned lower Wednesday after oil set a record high, erasing gains from economic reports that showed a dip in inflation and a surprise increase in pending home sales.

CNNMoney: Dow Jones deal just about doneupdated: Tue Jul 31 2007 22:57:00

The boards of both Dow Jones & Co. and News Corp. have approved a $5 billion deal that would put The Wall Street Journal in the hands of media mogul Rupert Murdoch, the Journal reported in its online edition late Tuesday.

CNNMoney: Stocks turn higher in rocky tradeupdated: Tue Jul 31 2007 22:21:00

Stocks bounced into the black Wednesday morning after dual economic reports showed a dip in inflation and a surprise increase in pending home sales.

CNNMoney: Stocks look for tractionupdated: Tue Jul 31 2007 21:34:00

Stocks were mixed at Wednesday's open as continued concerns about a credit crunch in the U.S. countered efforts for a rebound from a big selloff.

CNNMoney: Rally spoiled by subprime, oilupdated: Tue Jul 31 2007 05:05:00

Credit and subprime mortgage market worries and record-high oil prices sent stocks tumbling Tuesday after an early rally, with the Dow industrials falling nearly 150 points.

CNNMoney: Stock rally spoiled by subprime, oilupdated: Tue Jul 31 2007 04:16:00

Stocks suffered a steep selloff Tuesday afternoon after a bold start with the Dow industrials falling nearly 150 points on more subprime mortgage woes and record-high oil prices.

CNNMoney: Dow Jones sale may be nearupdated: Tue Jul 31 2007 04:13:00

Rupert Murdoch's News Corp. appeared to be inching closer to a deal to buy Dow Jones & Co. Inc. and gaining enough support from the divided Bancroft family, but both sides were still wrangling over the price.

CNNMoney: Hot start for stocksupdated: Mon Jul 30 2007 21:33:00

U.S. stocks flexed their muscles at Tuesday's open on the strength on GM's earnings and some benign economic reports.

CNNMoney: Bancrofts face deadline on Murdoch bidupdated: Mon Jul 30 2007 04:20:00

Members of the family that controls Dow Jones & Co. Inc. have been asked to decide by the end of Monday whether they will support News Corp.'s $5 billion bid for the news organization, a source familiar with the situation said Sunday.

CNNMoney: Bulls strike backupdated: Mon Jul 30 2007 03:35:00

Investors waded back into the market Monday, with the Dow industrials climbing more than 100 points, as credit markets fears appeared to subside on Wall Street.

CNNMoney: Murdoch may toss Dow Jones bidupdated: Mon Jul 30 2007 02:09:00

Rupert Murdoch's News Corp. said Monday it is "highly unlikely" to proceed with its $5 billion bid for Dow Jones & Co. Inc. unless it wins more support from Dow Jones's controlling family.

CNNMoney: Wall St. finds the higher groundupdated: Mon Jul 30 2007 01:47:00

Stocks moved modestly higher Monday afternoon, finally finding some momentum, as credit markets and corporate earnings remained in focus.

CNNMoney: Wall Street left to wanderupdated: Sun Jul 29 2007 23:54:00

Stocks continued to struggle for direction Monday after last week's brutal selloff, with investors weighing the latest credit market news and corporate earnings.

CNNMoney: Wall St. bounces aroundupdated: Sun Jul 29 2007 22:45:00

Investors couldn't make up their minds early Monday, with stocks mixed after the first hours of trading, as everyone kept an eye on the latest credit market news and corporate earnings.

CNNMoney: No direction for Wall Streetupdated: Sun Jul 29 2007 21:55:00

Stocks struggled at the start of Monday's session following last week's brutal selloff, as investors weighed more credit market news and the latest corporate earnings.

CNNMoney: Initial stock buying peters outupdated: Sun Jul 29 2007 21:48:00

U.S. stocks were flat after an initial advance Monday as investors remained nervous in the wake of one of the biggest one-week market drops of recent years.

CNNMoney: Data, earnings loom after painful weekupdated: Sun Jul 29 2007 08:54:00

Getting back on the bull will be no easy task next week, particularly after the meltdown stock investors endured over the past two days.

CNNMoney: Credit woes slam global marketsupdated: Fri Jul 27 2007 05:17:00

Global stock markets were roiled Friday after a plunge on Wall Street sent the Dow Jones industrial average down 311 points.

CNNMoney: New home market hammeredupdated: Thu Jul 26 2007 01:12:00

The battered real estate and home building markets took another body blow Thursday as a government reading showed a bigger than expected drop in new home sales, and the nation's top builders posted large losses due to the weak market and took charges for the declining value of their holdings.

CNNMoney: Dow tumbles 300 pointsupdated: Thu Jul 26 2007 00:53:00

The Dow Jones industrial average plunged more than 300 points by midsession Thursday on nervousness about credit markets, higher oil prices and more troubling news from the housing sector.

CNNMoney: Bancrofts expect to come to Dow Jones decision by Fridayupdated: Mon Jul 23 2007 21:23:00

Members of the Bancroft family, which controls Dow Jones & Co. Inc., may decide by the end of the week whether to accept a $5 billion offer by Rupert Murdoch's News Corp for the publisher of The Wall Street Journal. Dow Jones Director Resignsupdated: Fri Jul 20 2007 14:30:00

German publishing executive Dieter von Holtzbrinck has resigned as a director of Dow Jones & Co. to protest the board's endorsement of a deal to sell the company, which publishes The Wall Street Journal, to Rupert Murdoch's News Corp

CNNMoney: Mogul outlines rival plan for Dow Jonesupdated: Fri Jul 20 2007 05:53:00

Internet entrepreneur Brad Greenspan Friday outlined a new proposal to keep Dow Jones & Co Inc. out of Rupert Murdoch's hands, saying his plan can help boost its stock price to above $100.

CNNMoney: Dow Jones director resigns in protestupdated: Thu Jul 19 2007 07:19:00

A director on the board of Dow Jones & Co Inc has resigned because he could not support its endorsement of a $5 billion takeover offer from Rupert Murdoch's News Corp.

CNNMoney: Dow Jones director targeted by SECupdated: Thu Jul 19 2007 05:52:00

Dow Jones & Co. Inc. board member David Li, a prominent Hong Kong banker, may face civil charges in a Securities and Exchange Commission insider trading investigation linked to News Corp.'s $5 billion bid for the U.S. media company.

CNNMoney: Dow Jones profit tumbles 27%updated: Wed Jul 18 2007 22:05:00

Dow Jones & Co. Inc. reported a 27 percent drop in quarterly profit on Thursday, hurt by lower ad sales at The Wall Street Journal and higher stock-based compensation expenses after its share price surged following News Corp.'s bid for the company. Dow Jones Board OKs Murdoch Dealupdated: Wed Jul 18 2007 16:30:00

The fate of Dow Jones & Co. now rests with the Bancroft family, the company's longtime controlling shareholders, who must decide whether to sell the publisher of The Wall Street Journal to Rupert Murdoch's News Corp.

DJ board endorses News Corp. bidupdated: Wed Jul 18 2007 04:56:00

The board of directors for Wall Street Journal publisher Dow Jones and Company has agreed to recommend to stockholders a $5 billion takeover bid by rival media firm News Corporation.

CNNMoney: Dow Jones director reportedly under probeupdated: Wed Jul 18 2007 04:07:00

The SEC is investigating Dow Jones board member David Li over an insider-trading case linked to News Corp.'s bid for the Wall Street Journal publisher, Dow Jones reported Wednesday.

CNNMoney: Dow Jones backs News Corp. bidupdated: Wed Jul 18 2007 03:48:00

The board of Dow Jones & Co. Inc. endorsed on Tuesday a $5 billion buyout offer from Rupert Murdoch's News Corp., sending the deal to the controlling Bancroft family for final approval.

CNNMoney: Stocks' record run on the skidsupdated: Tue Jul 17 2007 21:52:00

Stocks broke from their record-setting run Wednesday, following disappointing results from tech giants Intel, Yahoo, renewed fears about the subprime mortgage sector.

CNNMoney: Dow Jones said to reach deal with Murdochupdated: Tue Jul 17 2007 06:25:00

Dow Jones & Co. Inc. Chief Executive Richard Zannino tentatively agreed on Monday to a $5 billion takeover bid by News Corp., though the company's controlling Bancroft family remains divided on the deal, the Wall Street Journal reported.

CNNMoney: Dow Jones keeps exploring takeover optionsupdated: Wed Jul 11 2007 04:28:00

Supermarket magnate Ron Burkle and Internet entrepreneur Brad Greenspan met with members of the Dow Jones board Tuesday to discuss a partial purchase of the company, according to a report in the New York Times.

CNNMoney: Stocks try to reboundupdated: Tue Jul 10 2007 22:41:00

Wall Street appeared to overcome its subprime fears that sent major gauges tumbling in the previous session, despite a lack of any significant economic readings.

CNNMoney: Flat start for stocksupdated: Tue Jul 10 2007 21:32:00

U.S. stocks were little changed at Wednesday's open as investors looked ahead to the oil inventory report due an hour after the bell rang.

CNNMoney: Dow Jones to meet with billionaire Burkleupdated: Mon Jul 09 2007 03:59:00

Dow Jones & Co., which has been in talks for a takeover by News Corp., will meet with supermarket magnate Ron Burkle as Dow Jones explores its options, a source familiar with the situation said on Sunday.

CNNMoney: Paper: MySpace pioneer still likes Dow Jonesupdated: Tue Jul 03 2007 07:44:00

Brad Greenspan, founder of the company that spawned MySpace, is still interested in buying Wall Street Journal publisher Dow Jones and is willing to explore a joint bid with an investment firm that has the support of unionized newsroom staffers, according to a published report.

CNNMoney: Murdoch deal with Dow Jones would let him fire WSJ editors - reportupdated: Thu Jun 28 2007 06:45:00

A tentative deal over editorial independence at The Wall Street Journal would give Rupert Murdoch's News Corp. the sole power to hire and fire the newspaper's top editors if it succeeds in buying Dow Jones & Co. Inc., The New York Times said Thursday. Dow, Murdoch to Agree on Safeguardsupdated: Wed Jun 27 2007 11:20:00

Murdoch's media conglomerate News Corp. and Dow Jones' board have agreed in principle on ways to ensure the Journal's independence, with some items yet to be decided,

CNNMoney: Carlyle private equity may go publicupdated: Wed Jun 27 2007 08:17:00

Carlyle Group, a U.S. private equity firm, is considering a stock market listing similar to last week's initial public offering by rival Blackstone, Dow Jones Newswires reported Wednesday.

CNNMoney: Murdoch: No plans to raise Dow Jones bidupdated: Wed Jun 27 2007 07:43:00

Rupert Murdoch said he had no plans to raise his $5 billion bid for Dow Jones & Co. Inc. and expected final approval from the controlling Bancroft family within two to three weeks, "if at all."

CNNMoney: Real estate to point the wayupdated: Tue Jun 26 2007 08:50:00

Stock futures pointed to a slight recovery Tuesday but jitters about the housing sector could spark another day of volatile trading.

CNNMoney: Worries ease on Wall Streetupdated: Tue Jun 26 2007 04:40:00

Stock futures pointed to a slight recovery Tuesday but jitters about the housing sector could spark another day of volatile trading.

CNNMoney: Wild swings continue on Wall Streetupdated: Tue Jun 26 2007 03:38:00

Wall Street suffered a case of deja vu Tuesday as stocks turned lower after an early rally for the second straight day, amidst continuing concerns about the subprime mortgage sector.

CNNMoney: Wall Street gains fizzle, againupdated: Tue Jun 26 2007 02:51:00

Stocks turned negative after an early runup for the second straight session Tuesday, as lower oil prices, subprime mortgage sector fears and a pair of economic readings competed for investors' attention.

CNNMoney: Stocks manage to stay afloatupdated: Tue Jun 26 2007 01:48:00

Major gauges remained higher Tuesday afternoon, helped by a drop in the price of oil by nearly $1, despite a pair of weaker than expected economic readings.

CNNMoney: News Corp., Dow Jones said to be near pactupdated: Tue Jun 26 2007 00:51:00

Rupert Murdoch's News Corp. and Dow Jones & Co. Inc. have "basically agreed" on a structure to protect the editorial independence of Dow's news operations, including the Wall Street Journal, a source familiar with the matter said Tuesday.

We recommend