News Corp. s Dow Jones & Co. unit and Hearst Corp. said they are in discussions for Dow Jones to purchase Hearst s half of the SmartMoney venture, which includes SmartMoney magazine, SmartMoney.com and its custom-publishing division. The deal would give Dow Jones 100% ownership of SmartMoney.

In a meeting with the SmartMoney staff, John P. Loughlin, executive vice president of Hearst Magazines, said Dow Jones and Hearst had decided it was in the best interest of both companies for Dow Jones to purchase the remaining stake in SmartMoney. He said the deal has not been finalized but could be completed soon. Loughlin said Dow Jones has indicated it has every intention of continuing the operation, including the flagship magazine.

In a joint statement, Hearst and Dow Jones said: "Hearst Corporation and Dow Jones have been partners since 1991 and have regularly discussed what is best for the SmartMoney brand. We are in talks to transition SmartMoney 100% to Dow Jones ownership, where it will be aligned with their other personal finance properties. A specific timeline hasn't been determined."

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