American Express Co., Caterpillar Inc. and Walt Disney Co. lost at least 0.7 percent to lead declines in the Dow Jones Industrial Average.

美国运通公司、卡特彼勒公司和沃尔特迪斯尼公司股价下跌幅度超过0.7%，领跌道琼斯工业平均指数。

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But the Times Co. sold almost all of its non-news assets to keep afloat in recent years, and lacks the backing of a diversified, big media mothership, as Dow Jones has with.

该公司近年来几乎卖掉了所有与新闻无关的业务，没有多元化经营，没有新闻集团这样的背景护体，他们面临着不小的风险。

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Mr. Philips is executive vice president of News Corp., which owns Dow Jones & Co., the publisher of The Wall Street Journal.

——本文作者Jeremy Philips是新闻集团的执行副总裁。 该集团拥有道琼斯公司，即《华尔街日报》的出版商。

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