Brad Greenspan, the former President of eUniverse (later renamed Intermix Media Inc.), sent a letter to Dow Jones & Company today stating that he has 5 investors interested in a transaction with him for ownership in The Wall Street Journal.
Greenspan mentioned in the letter that a possible result of the transaction could bea joint venture. Through the joint venture, three new businesses could be created called WSJUSLive, WSJAsiaLive, and WSJEuropeLive.
Greenspan would also drive for WSJ content to be delivered in video formats as well. The five groups and Greenspan would invest $300 million in cash.
In reference to News Corp’s bid for Dow Jones, Greenspan stated, “It is not too late for the directors to fulfill their fiduciary responsibility to shareholders and initiate a true sales process.”
According to Wikipedia, Greenspan published “The MySpace Report,” which claimed that News Corp. unfairly determined the valuation of MySpace. MySpace was owned by Intermix before the acquisition.
[Source: CNN]
