The company that owns The Philadelphia Inquirer and Philadelphia Daily News has expressed interest in joining with partners to buy Dow Jones & Co., the publisher of the Wall Street Journal, according to a story in the Inquirer by reporter Miriam Hill.
Hill wrote, “‘If there was a formalized bidding process, it would be our intention to participate,’ Brian Tierney, chief executive of the company, Philadelphia Media Holdings said this evening. ‘We would participate as Philadelphia Media Holdings along with other investors. We wouldn’t do it it alone.'”
She later wrote, “Their bid to buy the Philadelphia newspapers and Web site was greeted with skepticism, but Tierney’s team of investors emerged as the winners in a bidding contest that included Media News Group of Denver. A bid for Dow Jones would represent a much bigger challenge – almost 10 times bigger.
“A Dow Jones spokesperson had no comment on Tierney’s interest. Tierney said he had discussed a potential offer with various people involved with Dow Jones but would not name them.”
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