Monday, June 4, 2007

Dow Jones union seeks alternatives to Murdoch's bid*

IAPE has retained advisors to explore alternatives to the News Corp. bid for Dow Jones & Company and its flagship The Wall Street Journal. In a statement released today, IAPE president Steve Yount said the union is "reaching out to substantial investors that we believe could serve as partners in our effort to maintain the editorial independence of Dow Jones & Company and preserve the unquestioned journalistic integrity of all of its publications and products."

The union blasted the Murdoch bid May 1 in part:

Mr. Murdoch has shown a willingness to crush quality and independence, and there is no reason to think he would handle Dow Jones or The Journal any differently.
The voice that really matters in the chorus of comment, opinion and prediction by media types about the negative impact of a Murdoch takeover is that of the workers. After all, they have a significant stake in the outcome.

*Update: Union reaches out to investors including Buffett and Burkle Poynter Forums
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