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Ron Burkle, the billionaire who lost out to competition in the last three big newspaper bids he did — Knight Ridder, Philadelphia Inquirer and Tribune — is trying again: Dow Jones & Co.’s union has enlisted his firm to explore alternatives to Murdoch’s $5 billion bid for the company. Burkle’s Yucaipa Cos. agreed to advise the union, and Berkshire Hathaway’s Chairman Warren Buffett was also among the investors approached by the Independent Association of Publishers’ Employees, which represents 2,000 employees of DJ, reports Bloomberg. Yucaipa hasn’t met with members of the Bancroft family yet, and hasn’t said whether it plans a competing bid.
“We retained Ownership Associates to go out there and round up a half dozen billionaires in helping this union to make a counter offer for Dow Jones…Of the people who have been contacted so far, Yucaipa has immediately expressed interest,” said IAPE spokesperson.