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An AP report says that Ron Burkle and Brad Greenspan are looking at the possibility of getting together to make a bid for Dow Jones & Co. to thwart the News Corp. bid for the company, said a source close to the action.

The Dow Jones board, along with a Bancroft family representative met Tuesday to talk about how the deal could go forward.

This is in an exploratory stage and is only a feeling out process at this time.

While it's highly doubtful that anything will come of this, you never know with the irrational behavior of the Bancroft family.

The continuing assertion about ediorial independence and standards being the concerns are falling by the wayside as others who've worked at the Wall Street Journal and other large media organizations have said the idea of editorial independence is an illusion across the industry, rather than a reality.

On Greenspan's part, the latest offer he's allegedly made is to buy half the company, working with satellite TV company Echostar Communications (DISH). Originally he offered to buy 25 percent of Dow Jones stock at $60 per share.

Supposedly the union is working with Burkle to get other investors interested in the company. That doesn't seem to have worked so far.

Burkle has failed at attempts to buy other media properties, and Greenspan has some of his own ethics issues in the Internet field.

We've went over the reasons about all this in recent postings. The question becomes who could best help Dow Jones go forward successfully as a business, and Rupert Murdoch and News Corp. win there hands down.

When people get together to buy a business for the sole reason of keeping it out of another person's hands, they've already made a bad business move that speaks of personal, rather than professional considerations. It's doubtful Burkle and Greenspan could successfully add anything to Dow Jones and its properties.

If they were to buy it, they're in no position to invest in it and spread it across the types of properties that News Corp. could. Other than keeping it away from Rupert Murdoch, this makes no business sense.

Related Coverage:

Rupert Murdoch Bid for Dow Jones Already Saving Them Jobs

Dow Jones says Story about Completed Deal with Murdoch False

Wall Street Journal Editor Supports Dow Jones, News Corp. Agreement

New York Times Article says if Murdoch buys Wall Street Journal, Dark Day for American Democracy

What the Real Battle over Dow Jones is About

Rupert Murdoch Retains Power to Hire and Fire at Wall Street Journal

Dow Jones, News Corp. Come to Editorial Board Agreement

Dow Jones Deal Coming Closer to a Conclusion

Latest Plan by Bancrofts Shows Board may be Just Rubber Stamp for Them

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