Burkle Considers Bid For Dow Jones
June 5, 2007 at 1:13 PM (PT)
Billionaire RON BURKLE may take a run at making a bid for DOW JONES, in competition with RUPERT MURDOCH's widely-publicized $5 billion bid. BURKLE is working with the union representing WALL STREET JOURNAL employees, the INDEPENDENT ASSOCIATION OF PUBLISHERS' EMPLOYEES, which has also contacted WARREN BUFFETT and other possible bidders in an attempt to head off MURDOCH's takeover of the company, which owns the JOURNAL, BARRON'S, and the WALL STREET JOURNAL RADIO NETWORK.
BURKLE, whose YUCAIPA CO. formerly owned supermarket chains like SOUTHERN CALIFORNIA market leader RALPHS, was partnered with fellow LOS ANGELES billionaire ELI BROAD in a failed bid for TRIBUNE CO. and also attempted to buy KNIGHT RIDDER and the PHILADELPHIA INQUIRER and PHILADELPHIA DAILY NEWS. MURDOCH's meeting with the controlling BANCROFT family on MONDAY was termed "constructive" by the NEWS CORP. owner.