Categories: OLD Media Moves

Greenspan willing to team up to bid for Dow Jones

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.

Greenspan 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.

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.