Internet entrepreneur Brad Greenspan claimed that he has gained the support of five investor groups to thwart Murdoch’s $5 billion buyout bid for Dow Jones.
These five possible investors are Intel Corp’s, Intel Capital, Apex Partners, Jana Partners and Trafelet.
As the five investors showed their interest to invest in Dow Jones, dissident members welcomed them and assured their support. Former Dow Jones board member Dieter von Holtzbrinck, who resigned from the board in protest of Murdoch’s bid, shows his interest in investing in Greenspan’s offer.
It is known that Bancroft family, which owns 64 percent voting shares in Dow Jones, is reluctant to merge with the News Corp. and doing everything possible to prevent it. After Murdoch’s offer, the independent existence of Dow Jones isn’t possible as he has offered hefty money for each share. But board alleged that Murdoch involvement can mar the integrity and independence of Wall Street Journal. To prevent WSJ from the News Corp. acquisition, Dow Jones is seeking an alternative and Brad Greenspan-led group can be competitive enough to counter the media baron.
Via: Yahoo!
