Tierney, Other Potential Dow Jones Bidders Surface

A number of potential bidders for Dow Jones have come to light following Rupert Murdoch’s News Corp.’s bid of $5 billion.

According to Christopher Mackin, founder of the Dow Jones employee union, Ownership Associates, an internet entrepreneur and a Wall Street group have joined the list of potential rivals, writes Reuters. Also on the list is Philadelphia Media Holdings chief executive Brian Tierney, who has indicated he would be willing to pay at least as much as Murdoch is offering.

Tierney has said he is interested in bidding with partners. Tierney led the investor group that bought the Philadelphia Inquirer and Daily News from McClatchy Co. last year.

Analysts have said that Murdoch is more likely to be able to handle the pressures facing Dow Jones and the newspaper industry than other potential bidders.

Ron Burkle, the Los Angeles billionaire who has been approached by the Independent Association of Publishers’ Employees about bidding for Dow Jones, may not be the best choice for the company, according to newspaper analyst John Morton. “As rich as Mr. Burkle is, he doesn’t have that much. He could probably borrow it, but it would create an awful lot of financial pressure.”