OLD Media Moves

Internet executive, Wall Street group interested in Dow Jones

June 7, 2007

Posted by Chris Roush

Reuters reports that a “Wall Street group” and an Internet entrepreneur want to mount a counterbid to News Corp. CEO Rupert Murdoch‘s $5 billion offer for Dow Jones & Co., according to an interview with an advisor for the union that represents business journalists at The Wall Street Journal, Barron’s, Marketwatch and Dow Jones Newswires.

Dow JonesThe story stated, “Ownership Associates founder and President Christopher Mackin declined to identify the entrepreneur or the members of the group. Mackin, an adviser to the union, also declined to say what kind of group it was.

“Mackin also said Yucaipa Cos., the investment firm run by Los Angeles billionaire investor Ron Burkle, is working with the union, but ‘has not committed funding or financing.’

“The union also is open to more than one way to structure a union-led buyout of Dow Jones if the opportunity arose, including an employee stock ownership plan, Mackin said.”

Read more here.

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