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FROM THE FRONTLINES :: JEREMY GREENFIELD
Dow Jones Sold! According to British Business Magazine, The Business  According to The Business, the Dow Jones & Co. board and Rupert Murdoch have agreed on the terms of a $5 billion sale of the company. According to the story, price and other important terms have been agreed to, but some details still need to be resolved—none of them deal-breakers, according to the story’s sources, which were not named and were said to be speaking for the Dow Jones board. A formal announcement is expected next week.Though DJ responded to the article calling it “incorrect,” it did not cite which parts and declined to comment. This saga has been ongoing since April 17, when Murdoch made his unsolicited $5 billion/$60/share bid for the publisher of The Wall Street Journal. Two weeks later, when news of the offer surfaced, the media and business worlds buzzed with talk of Murdoch’s intentions, editorial integrity, and speculation on the deal. DJ’s stock price shot up to almost $60 in one day. Reuters, however, reported today that the Dow Jones board will be meeting with Ron Burkle, supermarket billionaire whose company Source Interlink recently paid almost $1.2 billion for now ex-Primedia enthusiast books. According to the Reuters story, the company is making a final effort to find other bidders to appease Leslie Hill, a Dow Jones director and member of the Bancroft family. To see the original article in The Business, click here. To see the Reuters piece, click here. See what The minsider has to say about it here. More Jeremy Greenfield
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