Reuters reports that Dow Jones' board of directors will take over negotiations from its controlling family regarding News Corp.'s $5 billion offer to buy the company. Separately, internet investor Brad Greenspan said he made a proposal on Tuesday to buy Dow Jones for $60 a share, matching News Corp.'s offer. Greenspan is the founder of MySpace parent Intermix Media, which News Corp. bought in 2005. Greenspan is seeking a 25% stake through a $60-a-share Dutch auction.
GE, Pearson won't pursue Dow Jones bid
MSNBC picks up the Associated Press report on General Electric Co. and Pearson's abandoning talks to do a joint bid for Dow Jones. That removes a potential rival to News Corp.'s $5 billion offer for the financial news publisher. GE and Pearson had held exploratory talks about combining GE's CNBC business news cable channel, Pearson's Financial Times newspaper and Dow Jones, which publishes The Wall Street Journal, Barron's and Dow Jones Newswires.