Dow Jones meeting expected
Dow Jones & Co., in talks on a takeover bid by media mogul Rupert Murdoch’s News Corp., will reportedly meet with Los Angeles supermarket magnate Ron Burkle today as Dow Jones explores its options.
The company is making a last push to try to find other potential buyers, in part to appease Leslie Hill, a Dow Jones director and a member of the Bancroft family, according to a report Sunday in the online edition of the Wall Street Journal. The Journal is Dow Jones’ flagship publication.
The Bancroft family controls 64% of the company’s votes.
Burkle has been exploring a structure for Dow Jones that would incorporate an employee stock ownership plan, the report said. A committee of Dow Jones’ board is expected to meet with Burkle.
Dow Jones and News Corp. continue to negotiate a potential deal, with an agreement on price possible soon, the report said. Dow Jones and Burkle were not immediately available to comment.