GE, Pearson in bid for Dow Jones: Wall Street Journal

*source: http://www.cbc.ca/money/story/2007/06/17/newspaper-venture.html#skip300x250

General Electric Co. and Financial Times publisher Pearson PLC are discussing making ( a ) joint bid for Wall Street Journal publisher Dow Jones & Co., (the) Journal reported Sunday.
If successful it would combine (the) Financial Times, Dow Jones and business channel CNBC in ( a ) privately held joint venture, (the) Journal reported, citing people familiar with (the) matter.
It would be owned in equal parts by GE and Pearson, with Dow Jones' controlling shareholders, (the) Bancroft family, keeping ( a ) minority stake in (the) new company, (the) report said.
The people cautioned that (the) discussions between GE and Pearson were preliminary.
GE spokesman Gary Sheffer declined to comment on (the) report. ( A ) message left Sunday night for ( a ) Pearson spokesman was not immediately returned.
The Journal reported Friday that Pearson, based in (the) United Kingdom, was trying to rally partners for ( a ) possible bid to rival Rupert Murdoch's $5-billion US offer for Dow Jones.
Murdoch's News Corp., which includes (the) Fox broadcast network, Fox News Channel, MySpace, (the) New York Post and many newspapers in (the) U.K. and Australia, has offered $60 US ( a ) share for Dow Jones, well above (the) mid-$30s range (the) stock had been trading at prior to his offer becoming public.
The Bancroft family initially rebuffed Murdoch's approach but then agreed to meet him to discuss concerns about his offer. Some Dow Jones shareholders and ( a ) union that represents Dow Jones employees say they are concerned that Murdoch may meddle with (the) Journal's coverage to suit his business interests — concerns that News Corp. says are unfounded.
Last week, ( a ) Bancroft family spokesman said that family members are still working on ( a ) proposal to News Corp. for setting up ( a ) structure that would safeguard (the) Journal's editorial independence.
The potential GE-Pearson joint venture would have ( a ) hand in many sources of business news and financial information around (the) world. Besides (The) Wall Street Journal, (the) Financial Times and CNBC, it would own Barron's, half of (the) Economist magazine, and interests in business newspapers worldwide.
It would also own (the) MarketWatch.com business-news website and ( a ) controlling stake in financial information compiler Interactive Data Corp., among other holdings.