Categories: OLD Media Moves

Dow Jones talked to virtually anybody with a pulse

Dow Jones & Co., the parent of The Wall Street Journal, Barron’s and Marketwatch, talked with 21 other potential partners or bidders before agreeing to sell to News Corp. CEO Rupert Murdoch, according to an SEC filing.

Sarah Ellison of The Journal wrote, “The filing, made Friday, didn’t identify any of the companies that contemplated a rival bid, although it alludes to two previously unreported parties who were in contact with Dow Jones, according to people familiar with the matters: Blackstone Group LP, the private-equity firm, and OAO Gazprom, the big Russian energy company.

“The filing refers to ‘a private investment company that had previously indicated an interest in acquiring Dow Jones.’ The two companies signed a confidentiality pact but ‘no proposal was made,’ the filing says. Blackstone had no comment.

“The filing also says that on July 10, Dow Jones received ‘various communications indicating that Company F, an international oil and gas company, might be interested in acquiring Dow Jones.’ No proposal was ever received, according to the filing. A Gazprom spokeswoman wrote in an email, ‘We’ve heard nothing’ about Gazprom’s interest in Dow Jones.”

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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.