Will union's alternative to Murdoch be more attractive to the Bancrofts?

Hard to say, but LAT's Joseph Menn reported today that Brad Greenspan "would be happy to join forces with Yucaipa Cos" for a crack at Dow Jones & Company.

Greenspan is hoping to present himself as a safer alternative for those members of the Bancroft family uncomfortable with Murdoch's history of close involvement in news operations.

Who is Brad Greenspan? He's the guy that co-founded the company that created MySpace.com in 2003 which was later acquired by — News Corp!
Greenspan, according to his interview with LAT, has offered to buy a quarter of DJ stock.

The Bancroft family, which controls Dow Jones, has yet to weigh in on the News Corp. plan but has said the company might be better off with another partner. Greenspan said his challenge was to convince Dow Jones and the Bancrofts that he was presenting a solid strategic alternative without a full merger. He met with bankers for the company and the family last week.

LA billionaire Ron Burkle's Yucaipa Companies of Los Angeles has been advising IAPE, the Newspaper Guild union at Dow Jones.

Earlier, Yucaipa was recruited by The Newspaper Guild to enter the sale process on behalf of its members to pursue a "worker friendly" purchase when Knight Ridder was up for sale in early 2006 and again when Tribune Company went out for bid later in the year.

Oh and by the way, such action is undertaken by the union only at the specific request of its members.

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