Cision announced a settlement with the US publisher Dow Jones & Co., a News Corp. (NWS,NWSA) company, on certain alleged infringements of rights. Cision stated that the agreement provides for a confidential settlement amount and restricts Cision from redistributing Dow Jones original content.
Cision said it continues to demonstrate a solid incremental performance, as previously indicated by the first quarter results, and the underlying EBIT for the second quarter of 2012 is expected to be SEK 35 million.
Cision stated that the result of the second quarter will however be affected by the undisclosed settlement amount and other non-recurring costs for implementation plus legal / professional fees. As a consequence the EBIT for the second quarter is now expected to be around negative SEK 10 million.
Earlier, Dow Jones said that its content was originally published mainly in the print and online editions of The Wall Street Journal, Barron's and SmartMoney magazines.
On March 8, 2012, Cision publicly disclosed that it had received a significant claim of rights infringement, without identifying Dow Jones as the claimant, Dow Jones said.
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