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In the wide and varied family of the thousands and thousands of funds out there, the exchange-traded fund is one of the more consumer-friendly ones.
Unlike mutual funds, exchange-traded funds, or ETFs, behave more like stocks. You can buy
into an ETF at any time, and sell it whenever you feel like it. And like a stock, an ETF's value can rise and fall--depending
on what the ETF is invested in.What do ETFs invest in? Well, they're typically linked to an index like the Dow Jones Industrial
Average or the S&P 500. So, if you had an ETF that trades the same companies that make up the Dow or the S&P, it will
rise and fall in value pretty much the same amount as the Dow or S&P.
You can also buy ETFs that invest in other
types of products, like bonds, currencies, gold or other commodities. The ETF market has grown considerably in the past few
years, so there is no shortage of ETFs to invest in.
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Friday, July 18, 2008
The Washington Post Company Agrees to Acquire WTVJ, NBC Affiliate in Miami
Comtex
WASHINGTON, Jul 18, 2008 (BUSINESS WIRE) ----The Washington Post Company (NYSE:WPO) has reached an agreement with NBC Universal to acquire WTVJ, the NBC-owned and operated television station in Miami, FL. Post-Newsweek Stations, Inc., a Washington Post Company subsidiary, will continue to operate WTVJ as an NBC affiliate. The purchase is expected to be completed by the end of 2008.
The acquisition is subject to approval by the Federal Communications Commission. Terms of the agreement were not disclosed.
Post-Newsweek Stations also owns and operates WPLG, the ABC affiliate in Miami.
Alan Frank, president and chief executive officer of Post-Newsweek Stations, said, "We are pleased to be able to reach an agreement to purchase such a historic station as WTVJ, the first TV station to broadcast in Florida. We look forward to both WPLG and WTVJ continuing to serve the South Florida community."
"Post-Newsweek has been a strong affiliate partner of ours for many years," added John Wallace, president of NBC Local Media. "They are seasoned broadcasters, who have a solid reputation in the industry. We look forward to working with Post-Newsweek as an affiliate owner for many years to come."
About Post-Newsweek Stations
Post-Newsweek Stations is owned by The Washington Post Company (NYSE:WPO), a diversified education and media company. Post-Newsweek Stations owns and operates six television stations: WDIV, the NBC affiliate in Detroit; KPRC, the NBC affiliate in Houston; WPLG, the ABC affiliate in Miami; WKMG the CBS affiliate in Orlando; KSAT the ABC affiliate in San Antonio; and WJXT, an independent in Jacksonville. Post-Newsweek Stations also has ownership interests in LATV Networks and Internet Broadcasting (IB).
The Washington Post Company also owns The Washington Post; Washingtonpost.Newsweek Interactive (WPNI), the online publishing subsidiary whose flagship products include washingtonpost.com, Newsweek.com, Slate, BudgetTravel.com, Sprig.com and TheRoot.com; Express; El Tiempo Latino; The Gazette; Southern Maryland Newspapers; The Herald (Everett, WA); Newsweek magazine; Cable ONE, serving subscribers in midwestern, western and southern states; and CourseAdvisor, an online lead generation provider.
The Company also owns Kaplan, Inc., a leading global provider of educational services to individuals, schools and businesses, serving over one million students with operations in more than 30 countries. Its international programs include higher education, test preparation, language instruction and professional training.
The Company has ownership interests in the Los Angeles Times-Washington Post News Service and Bowater Mersey Paper Company.
SOURCE: The Washington Post Company
Anika Harden, The Washington Post Company 202-334-6632 hardenaa@washpost.com Liz Fischer, NBC Universal 212-664-4825 liz.fischer@nbcuni.com
Copyright Business Wire 2008 ********************************************************************** As of Monday, 07-14-2008 23:59, the latest Comtex SmarTrend� Alert, an automated pattern recognition system, indicated a DOWNTREND on 05-13-2008 for WPO @ $647.90. For more information on SmarTrend, contact your market data provider or go to www.mysmartrend.com SmarTrend is a registered trademark of Comtex News Network, Inc. Copyright � 2004-2008 Comtex News Network, Inc. All rights reserved.
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