Dow Jones & Co. Inc. Wednesday said it would start publishing a weekend version of its Wall Street Journal business newspaper, and that the move would be modestly dilutive to its 2005 earnings.
The new edition of the paper, currently published only on weekdays, will start Sept. 10, 2005, and will be delivered to subscribers at no additional charge.
The New York-based company said the new edition would help balance the cyclical nature of advertising revenues.
"We expect the Journal to post impressive earnings gains in 2005 even after the modest dilution of Weekend Edition, due to expected growth in core Journal advertising revenues, and cost containment made possible by initiatives already implemented in 2004," Dow Jones chief operating officer Richard Zannino said in a statement.
Analysts had expected the company to earn $1.67 a share in 2005, according to Reuters Estimates.