OLD Media Moves

Greenspan willing to team up to bid for Dow Jones

July 3, 2007

Posted by Chris Roush

Brad Greenspan, the former CEO of the company that once owned MySpace, told The Los Angeles Times that he would be willing to work with an investment firm recruited by Dow Jones & Co. staffers to fashion a joint bid for the financial news empire.

Wall Street JournalGreenspan has made an offer to buy 25 percent of the company, which owns The Wall Street Journal, Dow Jones Newswires, Barron’s and Marketwatch.

Joseph Menn of The Times wrote, “Brad Greenspan, who made a reported $47 million when his EUniverse was sold to Rupert Murdoch’s News Corp., said in an interview that he would be happy to join forces with Yucaipa Cos.

“Controlled by Los Angeles billionaire Ron Burkle, Yucaipa has been advising the main union representing Dow Jones journalists, including those at the Wall Street Journal.

“‘They’ve certainly got great experience, and we would welcome working with them in some capacity,’ Greenspan said. ‘We are definitely open to talking to any other parties.’

“He declined to say whether talks had begun.”

Read more here.

Subscribe to TBN

Receive updates about new stories in the industry daily or weekly.

Subscribe to TBN

Receive updates about new stories in the industry.