OLD Media Moves

NBC still mulling Dow Jones offer

June 11, 2007

Posted by Chris Roush

Dan Sabbagh, the media correspondent of The Times of London, writes for Tuesday’s paper that NBC is still mulling an offer for Dow Jones & Co., the parent of The Wall Street Journal.

Sabbagh wrote, “Over the weekend, it emerged that GE and Microsoft held talks about a joint bid, but that those discussions came to an end a few weeks ago. The two are partners in the cable news venture MSNBC.

“However, GE was careful yesterday to indicate that, while the Microsoft tie-up was not progressing, a bid should not be ruled out. It issued a statement saying: ‘NBC Universal has a successful history of strategic acquisitions and as standard practice is always evaluating opportunities. It’s simply good business.’

“Wall Street reacted cautiously, pushing down Dow Jones shares 26 cents to $60.16, just above News Corp’s $60 a share approach, as the market concentrated on the collapse of the Microsoft discussions. Although GE remains in the race, its inability to work with a familiar partner makes it harder to join in a consortium bid.”

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