Reports in the trade press claim that Pearson is mulling over a partnership with General Electric owned channel CNBC to launch a rival bid for Dow Jones, publisher of
The Wall Street Journal.
News Corp made a £2.5 billion bid for Dow Jones in April, offering $60 per share, with many analysts thinking it unlikely that Pearson could match such an offer.
The reports claim that any venture between General Electric and Pearson would involve them combining to bid for Dow Jones, with each holding an equal share of the business and the Bancroft family – which owns a controlling stake in Dow Jones – maintaining a high minority stake in the publisher.
The Independent Association of Publishers’ Employees, which represents over 2,000 Dow Jones employees, is likely to support a Pearson bid, having express concerns about The Wall Street Journal‘s editorial independence should it fall into the hands of Rupert Murdoch and News Corp.
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