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Pearson-GE
combine mulling bid for Dow Jones & Co
New York: Pearson Plc
and General Electric Co. are considering a joint bid for Dow Jones & Co, publisher
of the Wall Street Journal (WSJ), the journal reported.
Under
the plan, Pearson's Financial Times, GE's CNBC unit and Dow Jones, which owns
the Wall Street Journal, would be merged in a closely held venture that would
leave the WSJ's controlling Bancroft family, with a minority stake in the new
company. GE
and Pearson are discussing a proposal under which they would each hold 40 per
cent to 45 per cent of the new company and leave the Bancrofts with a 10-20 per
cent stake, the Journal said.
An
offer would pit the Pearson-GE combine against Rupert
Murdoch who has made a $5 billion bid and is in talks
with the Bancrofts. The Bancroft family said last week
that it's still working on a proposal to send to Murdoch's
News Corp. designed to protect the newspaper's editorial
independence.
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Microsoft
picks up 1 per cent stake in Chinese TV maker
Shanghai:
US
software giant Microsoft Corp. will acquire a one per
cent stake in Sichuan Changhong Electric Co of China for
$12.3 million (94 million yuan) and form a cooperative
alliance with the TV and electrical appliance maker, the
Chinese company said.
The
two companies will also cooperate in developing and marketing TVs, computers and
other digital home-entertainment products, Sichuan Changhong said in filing with
the Shanghai Stock Exchange. According
to industry sources, the deal provides Microsoft with a stepping-stone to the
vast Chinese market and also an alliance with a potentially key player. It
is expected that Microsoft may revive its "Venus project" - an operating
system that would allow Chinese electronics firms to combine a web browser, PC
and video compact disc player in a single box atop TVs.
By
now China has become the second-largest internet market
after the US , with around 140 million web users and growing
use of high-speed broadband.
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