Peter R. Kann, chairman and chief executive officer of Dow Jones, said, "We value our long and profitable relationship with CNBC. At CNBC U.S., we look forward to continuing it under our existing U.S. license agreement. At CNBC International and World, we and NBC Universal have agreed for Dow Jones to exit the partnership to eliminate our share for business reasons and simplify NBC Universal's ability to deploy its assets to continue to grow these operations. We look forward to supporting NBC Universal's efforts."

Mr. Kann continued, "This is the latest in a series of moves by Dow Jones to improve profits and strengthen our portfolio. We're investing in exciting new initiatives where we have strong competitive advantages such as the launch of the Weekend Edition of The Wall Street Journal, the acquisition of MarketWatch and the repositioning of our international print and online operations, and exiting those where we do not."

Dow Jones expects to record a one-time, after-tax special charge of approximately $36.7 million, or 44 cents per diluted share, in the second quarter. About $32.1 million, or 39 cents per share, will be a noncash write-off of its carrying value in the transferred assets, and the remaining $4.6 million, or 5 cents per share, is to cover its maximum after-tax cash funding commitment for the balance of 2005. The Dow Jones share of losses from CNBC Europe, CNBC Asia and CNBC World totaled $17 million in 2004.

"CNBC's international strength has been a hallmark of the CNBC brand. We will continue to build the brand's global strength and to look for additional opportunities for expansion wherever we can," said Pamela Thomas-Graham, CNBC Chairman.

"Operating internationally since 1998, CNBC has built a leading global business news network," said Mark Hoffman, CNBC President. "Acquiring sole ownership reinforces our commitment to that vision and gives us the opportunity to further develop and grow the CNBC product and brand globally."

Both CNBC Europe President Mick Buckley and CNBC Asia Pacific President Alexander P. Brown will now report directly to Hoffman. Dow Jones and CNBC will function solely as editorial partners in Europe and Asia Pacific once the deal is closed.

"According to the latest EMS survey figures, CNBC Europe is the fastest growing pan-European TV channel and we are the most watched business and financial channel in Europe," said Buckley. "We look forward to building upon this in the future and embracing new opportunities as we continue to bring outstanding coverage on the latest business and financial developments across the region to our viewers."

Added Hoffman, "We are also equally committed to serving the needs of our viewers, clients and affiliates in Asia Pacific."

"CNBC Asia Pacific is the leader in business and financial news in the region, as per the latest PAX viewership figures. Through our relationships with local partners, we pride ourselves in being able to deliver the very best in both local and global coverage for our viewers," said Brown. "We are committed to building the CNBC brand in Asia and continuing to raise the bar for business news coverage in this dynamic region."