Philadelphia investor Tierney eyes Dow Jones

Thu Jun 7, 2007 10:45am EDT

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NEW YORK, June 7 (Reuters) - Philadelphia Media Holdings Chief Executive Brian Tierney said on Thursday he is interested in bidding with partners for Wall Street Journal publisher Dow Jones & Co. Inc. DJ.N

Rupert Murdoch's News Corp. NWSa.N has offered to buy Dow Jones for $60 a share, or $5 billion.

"We don't believe News Corp. is overpaying," Tierney, who led an investor group that bought the Philadelphia Inquirer and the Philadelphia Daily News last year for $515 million, said in a statement. "This is one of the greatest journalistic enterprises ever created."

He added, "If there is a process for the sale of the business we would be inclined to participate in partnership with others."

((Reporting by Robert MacMillan; Editing by Derek Caney; Reuters Messaging: robert.macmillan.reuters.com@reuters.net; +1 646 223 6180)) Keywords: DOWJONES TIERNEY/

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