Categories: OLD Media Moves

Internet executive, Wall Street group interested in Dow Jones

ReutersÂ reports thatÂ a “Wall Street group” and an Internet entrepreneur want to mount a counterbid to News Corp.Â 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.

The story stated, “Ownership Associates founder and President Christopher MackinÂ 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.”

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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.