Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Monday, July 9, 2007

Dow Jones Board Still Looking for Other Bidders

The Dow Jones board is still looking for alternative bidders for the Wall St. Journal, urged on by members of the Bancroft family who do not want to sell the newspaper to Rupert Murdoch.  Ronald W. Burkle, a California billionaire, is meeting today with the special committee formed to consider the sale, and MySpace co-founder, Brad Greenspan, is said to be working on putting together a proposal.  So far no one has emerged who can match the News Corp.'s $60 per share price.  Meanwhile negotiations with News Corp. continue.  See NYTimes, Dow Jones Continues Hunt for an Alternative Bid; WSJ, Dow Jones Makes Late Push To Find Other Buyers.

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