Dow Jones to meet with Burkle, source says
EmptyPHILADELPHIA -- Dow Jones & Co., which has been in talks for a takeover by News Corp., will meet with supermarket magnate Ron Burkle as Dow Jones explores its options, a source familiar with the situation said Sunday.
A committee of Dow Jones's board is expected to meet with the Los Angeles billionaire on Monday, the source said. Dow Jones and Burkle were not immediately available for comment.
Burkle has been exploring a structure for Dow Jones that would incorporate an employee stock ownership plan, sources previously told Reuters.
Dow Jones is making a last push to try to find other potential buyers, in part, to appease Leslie Hill, a Dow Jones director and a member of the Bancroft family, according to an online report by The Wall Street Journal. The Bancroft family controls 64% of the company's votes.
Dow Jones and News Corp. continue to negotiate a potential deal, with an agreement on price possible soon, The Wall Street Journal said. The New York Times reported that the two sides have not begun to seriously discuss a price.