MySpace founder enters WSJ battle

Michael Gay June 23rd, 2007

Rupert Murdoch has been trying to purchase the Wall Street Journal to boost his new Fox Business Channel. Well a past adversary is back and trying to keep it from happening. Brad Greenspan, who founded MySpace.com, entered the bidding with a $1.5 billion offer to take a 25% stake in Dow Jones with a focus of helping wsj.com and marketwatch.com. This offer comes two years after he tried unsuccessfully to stop Murdoch from buying MySpace. “I do not believe any current publicly disclosed acquisition offers for Dow Jones fully recognise the potential which Dow Jones’ unique assets, properties, and brands represent,” Greenspan wrote in a letter to the board.