Ron Burkle, the man described by most media reports as a “supermarket magnate” who currently owns positions in both Pathmark and Wild Oats, reportedly has been meeting with members of the Down Jones board of directors to discuss a possible bid for the company, which owns the Wall Street Journal.
The discussions are being held by the Dow Jones board as it seeks alternatives to a bid made by media magnate Rupert Murdoch. There has been some resistance within the WSJ community to a Murdoch ownership because of concerns that the owner of Fox News and the New York Post will tamper with the WSJ’s approach to journalism.
According to a Reuters story, “Burkle has been exploring a structure for Dow Jones that would incorporate an employee stock ownership plan.”
The discussions are being held by the Dow Jones board as it seeks alternatives to a bid made by media magnate Rupert Murdoch. There has been some resistance within the WSJ community to a Murdoch ownership because of concerns that the owner of Fox News and the New York Post will tamper with the WSJ’s approach to journalism.
According to a Reuters story, “Burkle has been exploring a structure for Dow Jones that would incorporate an employee stock ownership plan.”
- KC's View:
- I said this before I went on holiday, and I’ll repeat it. No matter what kinds of guarantees the Dow Jones folks try to get from Murdoch, once he owns the WSJ those guarantees won’t be worth the paper they are written on. If he buys it, he owns it, and he gets to do what he wants with it. Some will think this a good thing, and others will wail and gnash their teeth. But it will be the reality.
