Sarah Ellison of The Wall Street Journal writes that Brad Greenspan and Ron Burkle both met with board members of Dow Jones & Co. on Tuesday to discuss alternative bids to the $5 billion offer from News Corp.
Ellison noted that former Dow Jones CEO Peter Kann, a former reporter at The Journal, expressed concern about the other bidders.
She wrote, “Even some people who have reservations about the offer from News Corp. Chairman Rupert Murdoch are skeptical that the pair offer a viable alternative. ‘The search for any buyer but Murdoch makes little sense to me,’ said former Dow Jones Chief Executive Peter Kann in an email.
“Mr. Kann, who has been outspoken in his support for the independence of Dow Jones, said he still hopes the Bancroft family will decide to not sell the company. ‘But if the family is going to sell I see no point in pursuing industrial conglomerates, Internet entrepreneurs, supermarket magnates and real-estate developers. None know anything at all about journalism. As to Mr. Murdoch, at least he loves newspapers, presumably would invest in the WSJ and Dow Jones, and would seem to have little incentive to tarnish a trophy he has coveted for so long.’ A spokesman for Mr. Greenspan didn’t have an immediate comment. A representative for Mr. Burkle didn’t return calls.”
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