Rivals Team Up on 11th-Hour Dow Offer

Greenspan, Burkle hatch partial buyout option for W SJ owner
By Peter Fearon,  Newser Staff
Posted Jul 11, 2007 5:08 AM CDT
(AP Photo/Elaine Thompson, File)   (Associated Press)
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(Newser) – Supermarket billionaire Ron Burkle and former MySpace CEO Brad Greenspan may join forces to make at least a partial bid for the Wall Street Journal's parent company, say sources close to the discussions. The pair met yesterday with members of the Dow Jones board to craft an alternative to Rupert Murdoch's $5 billion proposal, though accounts detailing the potential offer differ.

The New York Times reports that the men will launch a bid for part of the company, and are trying to gather a consortium of other investors; the Journal leaves the door open for the possibility of a full takeover scheme. But both accounts note that any non-Murdoch play remains a long shot.