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GE, Pearson Move to Halt Bid for Dow Jones

Jun 21, 2007  •  Post A Comment

General Electric and Pearson, whose holdings including the Financial Times, have called a halt to any conversations about a collaborative bid for Dow Jones and Co., whose journalistic crown jewel is the Wall Street Journal.
The development greatly enhances the prospects that News Corp. Chairman Rupert Murdoch will succeed in his previous bid to buy Dow Jones for $5 billion. News Corp. is launching the Fox Business Channel later this year.
GE today issued the following statement regarding its recent discussions with Pearson about Dow Jones:
“GE and NBC Universal are always evaluating opportunities to enhance our businesses and shareowner value, particularly when they involve superior global brands such as CNBC, the Financial Times Group and Dow Jones. GE and CNBC recently held exploratory discussions with Pearson regarding a possible combination of these properties. Following these discussions, GE and Pearson have decided not to pursue this combination. Pearson and NBC Universal continue to discuss cooperative agreements between CNBC and the Financial Times Group.”

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