Burkle, Greenspan May Merge Bids For Dow Jones
July 11, 2007 at 11:55 AM (PT)
Two possible bidders for DOW JONES may combine their efforts into a single bid to compete with RUPERT MURDOCH's NEWS CORP. for the WALL STREET JOURNAL publisher. RON BURKLE, the CALIFORNIA billionaire owner of YUCAIPA COS., and BRAD GREENSPAN, who served as CEO of INTERMIX MEDIA, an early investor in MYSPACE, met with a committee of DOW JONES directors as well as a representative of the controlling BANCROFT FAMILY TUESDAY to discuss a possible takeover bid, taking a run at thwarting MURDOCH's $5 billion offer to buy DOW JONES.
GREENSPAN has an antitrust lawsuit pending against MYSPACE, now owned by MURDOCH, for blocking links to GREENSPAN's VIDILIFE social networking service.