Pearson, GE Talking Over Dow Jones Joint Bid
June 19, 2007 at 5:45 AM (PT)
FINANCIAL TIMES owner PEARSON may be closer to a joint bid with GENERAL ELECTRIC for DOW JONES, as the parties' negotiations heat up with news that among the scenarios being discussed is a joint venture owned 40% each by PEARSON and GE and 20% by the present controlling shareholders, the BANCROFT family. GE would be interested in order to protect its CNBC cable network from more difficult potential competition from RUPERT MURDOCH's proposed FOX BUSINESS CHANNEL should MURDOCH's bid win him DOW JONES and its WALL STREET JOURNAL.
Reportedly, neither PEARSON nor GE has approached the BANCROFTS with a proposal yet. A decision by GE is expected by the end of the week.