Wednesday, June 6, 2007
The main union for the Dow Jones employees has reached out to Ronald W. Burkle and his private equity firm Yucaipa Companies for assistance in looking for alternative bids for the company. Burkle and Yucaipa frequently work with unions on business deals; it is not known if they themselves are interested in competing with Murdoch. Burkle previously made unsuccessful attempts to acquire some Knight Ridder newspapers and the Tribune Company. See NYTimes, Dow Jones Union Seeks Billionaire’s Help in Finding Alternative Bidder to Murdoch.
The Wall St. Journal today focuses on Board Chair M. Peter McPherson and the difficult role of the board of directors in the face of the direct negotiations between the members of the Bancroft family and Murdoch. See WSJ, Dow Jones Chairman Emerges As Key Player in Bid.