Categories: OLD Media Moves

Burkle working with union on Dow Jones bid

Sarah Ellison of The Wall Street Journal is reporting that Ron Burkle’s investment firm Yucaipa Companies LLC and another investor have joined up with the union representing Dow Jones’s employees to help come up with alternatives to News Corp.’s bid for Dow Jones & Co.

Ellison wrote, “Yucaipa and Ownership Associates worked with union representatives to bid for Knight Ridder Inc., which was eventually sold to McClatchy Co. The group also bid for the Philadelphia Inquirer, but lost out to a group of Philadelphia businesspeople led by Brain Tierney.

“Mr. Burkle most recently made a run at Tribune Co. in partnership with real estate investor Eli Broad, but the two lost out to Chicago real estate mogul Sam Zell.”

Read more here. Meanwhile, Reuters is reporting that the union has also approached Warren Buffett, but has yet to receive a response.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.