Dow Jones Seeks Alternatives to Murdoch Bid

NEW YORK, July 9: Board members of Dow Jones & Company
are seeking alternatives to News Corporation’s $5-billion bid, according to the
New York Times, on the heels of numerous
reports this weekend that indicated the deal had been sealed.

Reports indicate that members of the Bancroft family, which
owns a controlling interest in Dow Jones, remain opposed to News Corporation,
and Rupert Murdoch, taking control of the Wall Street Journal.

Board members are said to be meeting today with California
billionaire Ronald W. Burkle. Furthermore, the Independent Association of
Publishers’ Employees, the main union of Dow Jones staffers, is also looking
for another bidder and is said to have been in contact with Burkle’s private
equity firm, Yucaipa Companies.

Last month, General Electric and Pearson considered a joint
bid but ultimately abandoned those plans.