NBC still mulling Dow Jones bid

Dan Sabbagh, Media Correspondent
General Electric’s NBC Universal is still considering a counter-bid for Dow Jones, publisher of The Wall Street Journal, after discussions about a joint bid with Microsoft broke down last month.

The industrial conglomerate behind CNBC, the leading business news channel in the United States, said yesterday that it was “always evaluating opportunities” as it decides whether to compete with News Corporation, parent company of The Times, in a bid.

However, GE is also understood to be reluctant to bid alone, not least because it has in the past been cautious about moving into newspapers. It is thought to be casting around for partners in a possible counter-bid to News Corp.

At the beginning of last month, it emerged that News Corp had made a $5 billion bid for Dow Jones. The approach is being considered by the Ban-croft family, which controls Dow Jones. However, the family’s bankers also are trying to sound out if there are viable alternatives.