Could a White Knight Rescue Dow Jones?
The financial wires are abuzz with word that.a white knight in the form of Pearson PLC -- publisher of the Financial Times! -- is putting together partners to bid for Dow Jones.
That has got to be the truth because it was reported in the Wall Street Journal online edition, natch.
In an article sourced to the usual anonymous suspects, the Journal said Pearson has reached out to Hearst Corp. and General Electric Co.
Personally I don't think this has much chance of being pulled off, but stranger things do happen. If Pearson et al can put together a bid even significantly less than $60, I am sure the Dow Jones board will grab it.
So I henceforth will no longer say that Rupert Murdoch "will" buy Dow Jones, until this report is knocked down. The market seems to believe it.
© 2007 Gary Weiss. All rights reserved.
Wall Street Versus America was published by Penguin USA on April 6.
Click here for its Amazon.com listing and here for more information on the book, from my web site, gary-weiss.com.