As Dow Jones & Co.'s controlling Bancroft family continues to fret about selling to Rupert Murdoch, General Electric Co. and Financial Times publisher Pearson PLC are in talks about making a joint bid for Dow Jones that would allow the family to keep a minority interest.They have good reason to stay away from the Faux News tycoon. Not that this new proposal is ideal, it continues a pattern of consolidation of media ownership in North America. But it's better than letting Murdoch get his hands on the Journal...
The two companies have discussed a scenario in which GE's CNBC business channel, the FT and Dow Jones would be combined into a privately held joint venture, according to people familiar with the matter. The venture would be owned equally by GE and Pearson, with the Bancrofts holding a minority stake, these people said.
The GE-Pearson talks -- which these people cautioned are preliminary and could collapse -- signal that an alternative may be emerging to News Corp.'s $5 billion bid for Dow Jones, publisher of The Wall Street Journal.
Monday, June 18, 2007
That's a shame
Rupert's got company in his bid for the WSJ/Dow Jones as the Bancroft family maintains its anybody-but-Murdoch stance: "GE and Pearson Discuss Joint Bid For Dow Jones."