General Electric Co. discussed a joint bid with Microsoft Corp for Dow Jones &
Co.in recent weeks, but the idea was abandoned, The Wall Street Journal
two companies have discussed matching News Corp.''s $60 per share offer for Dow
Jones but decided against it a week ago, according to the report in the Journal''s
online edition, which cited people involved in the discussions.
the economics just didn''t make sense," said the person, who had not been
authorised to speak for companies.
acquisition would have helped GE combine Dow Jones with its NBC Universal unit,
to stave off competition from News Corp., which is planning a business television
channel to rival GE''s CNBC.
Jones has also been looking for alternatives to the News Corp. offer, but without
any results, the Journal said. But no rival has yet stepped up to compete with
Rupert Murdoch''s $5 billion bid for Dow Jones, the publisher of The Wall Street
and NBC were partners in forming the MSNBC cable
initiated the overture after the Bancroft family announced on May 31 that it would
meet with Mr. Murdoch and opened the door to counteroffers to the bid from Mr.
Murdoch''s News Corporation.