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July 25, 2008 10:36:25 PM CDT

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GE, Pearson Bail on Bid for Dow Jones

Posted Jun 21, 07 1:32 PM CDT in Business 

(Newser) – General Electric and Pearson may yet work out an arrangement that takes advantage of their business-media assets, but their plans don't involve Dow Jones. The companies said today they won't pursue a deal with the Wall Street Journal publisher, brightening the outlook for News Corp.'s $5 billion offer, Pearson's Financial Times reports.

Pearson's CEO informed her employees that talks about melding GE's CNBC, the FT, and Dow Jones' stable of assets had ended, saying the company "didn’t see that combination stacking up." The Dow Jones board's decision to take over negotiations with Rupert Murdoch may have been a factor, but one analyst attributes the course change to "simple logistics," Bloomberg reports.

Source Financial Times (UK)

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General Electric light bulbs on display at a supermarket in Denver in this April 13, 2006 file photo. General Electric Co. on Friday, April 13, 2007 reported first-quarter earnings of $4.5 billion, up...   (Associated Press)
Jeffrey Immelt, Chairman and CEO of GE, speaks at the company's healthcare summit on Tuesday, May 15, 2007 in New York. (AP Photo/Mark Lennihan)   (Associated Press)
Co., publisher of the Wall Street Journal. (AP Photo/Mark Lennihan)   (Associated Press)
Co. in early May, but last Thursday agreed to meet with him. (AP Photo/Jason DeCrow)   (Associated Press)
Pedestrians walk outside the News Corporation's corporate headquarters, in this May 1, 2007 file photo in New York. Rupert Murdoch's media conglomerate News Corp. reported a 6.2 percent profit increase...   (Associated Press)
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Dow Jones  • Rupert Murdoch  • News Corp  • Wall Street Journal  • General Electric  • CNBC  • Financial Times  • Pearson


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