Dow Jones Union Reaches Out To Investors Including Buffett and Burkle

For More Information: Candice Johnson, CWA Communications, 202-434-1168, 202-415-6566 (cell) or Steven Yount, IAPE, 609-220-5951

New York -- The Independent Association of Publishers' Employees (IAPE), the union that represents more than 2,000 employees of Dow Jones & Company, and Ownership Associates, the advisor retained by IAPE, The Newspaper Guild and the Communications Workers of America, have reached out to Mr. Warren Buffett and the investment group The Yucaipa Companies in Los Angeles, led by Mr. Ronald Burkle, to explore alternatives to News Corp.'s bid for Dow Jones & Company.  

Steven Yount, president of IAPE remarked:

"Our union remains hopeful that the Bancroft family will conclude that a sale of Dow Jones is not necessary. But if the Bancroft family is to be persuaded that a sale must take place, we believe that there are alternatives to Mr. Murdoch. Yucaipa Companies has agreed to work with IAPE, TNG-CWA and the Bancroft family to review their alternatives. The Newspaper Guild-CWA has worked with Yucaipa in the past and very much appreciates its efforts in aiding us in exploring alternatives."

 Yount commented:

"IAPE and its advisors will continue to explore other investment relationships. We are optimistic that there are many leaders in the investment community who will be ready to come to the side of the employees of Dow Jones & Company to defend the editorial independence and unquestioned integrity of both Dow Jones and its flagship publication, The Wall Street Journal."

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The Newspaper Guild-CWA represents 35,000 workers in the United States, Canada and Puerto Rico, and CWA overall represents 700,000 workers in telecom, IT, journalism, broadcasting, manufacturing, airlines and other sectors.