Dan Sabbagh, the media correspondent of The Times of London, writes for Tuesday’s paper that NBC is still mulling an offer for Dow Jones & Co., the parent of The Wall Street Journal.
Sabbagh wrote, “Over the weekend, it emerged that GE and Microsoft held talks about a joint bid, but that those discussions came to an end a few weeks ago. The two are partners in the cable news venture MSNBC.
“However, GE was careful yesterday to indicate that, while the Microsoft tie-up was not progressing, a bid should not be ruled out. It issued a statement saying: ‘NBC Universal has a successful history of strategic acquisitions and as standard practice is always evaluating opportunities. It’s simply good business.’
“Wall Street reacted cautiously, pushing down Dow Jones shares 26 cents to $60.16, just above News Corp’s $60 a share approach, as the market concentrated on the collapse of the Microsoft discussions. Although GE remains in the race, its inability to work with a familiar partner makes it harder to join in a consortium bid.”
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