Ron Burkle

Dow Jones & Co., in talks on a takeover bid by media mogul Rupert Murdoch's News Corp., will reportedly meet with Los Angeles supermarket magnate Ron Burkle today as Dow Jones explores its options. The company is making a last push to try to find other potential buyers, in part to appease Leslie Hill, a Dow Jones director and a member of the Bancroft family, according to a report Sunday in the online edition of the Wall Street Journal. The Journal is Dow Jones' flagship publication.

Los Angeles magnate Ron Burkle went upscale with the latest addition to his portfolio: fashion retailer Barneys New York. Burkle's The Yucaipa Companies and Perry Capital took ownership of Barneys in a debt-restructuring deal, Barneys announced Monday. The deal slashes Barneys debt from $590 million to $50 million. “This agreement provides us with increased free cash flow that will be used to revitalize our stores, invest in Barneys.com and further enhance our customer experience at a time when our operational financial performance is very strong,” Barneys chief executive officer Mark Lee said in a statement.

Hollywood's 107-year-old industry trade publication Variety and 6-year-old online competitor Deadline, headed by editor Nikki Finke, may soon be housed under the same corporate roof. Penske Media Corp., the owner of Deadline and six other online properties, is now the leading bidder for Variety, partnered with private equity fund Shamrock Capital Advisors, according to two knowledgeable people not authorized to discuss the matter publicly. The company, led by Jay Penske, the 33-year-old son of automobile magnate Roger Penske, could close a deal to purchase the paper in the next three weeks for around $30 million, one of the people added.

Private equity firm J.C. Flowers & Co. on Monday withdrew its bid for the futures brokerage business of Refco Inc. as other suitors joined the race, including a partnership of Los Angeles billionaire Ron Burkle and the Dubai government. Flowers pulled its $768-million bid after a U.S. Bankruptcy Court judge said it must sharply reduce a break-up fee included in the deal. U.S. broker-dealer Interactive Brokers Group has made the highest known offer.

Los Angeles billionaire Ron Burkle and his Yucaipa Cos. private-equity firm reported an 8.3% stake in Barnes & Noble Inc., the world's largest bookseller, and may seek talks with the company. Burkle intends to monitor Barnes & Noble's performance and consider the option to discuss strategic opportunities with the company's board or executives, according to a regulatory filing Friday.

After raising nearly $4 million at a gala hosted Tuesday by billionaire Ron Burkle, foes of an initiative to ban same-sex marriage have significantly increased their television advertising, prompting the measure's backers to scramble for more money. Spending on Proposition 8 is fast approaching $60 million, making it by far the most costly ballot measure anywhere in the country this year. Backers of the constitutional amendment said they have been outspent this week by more than $2.6 million on television and radio, although they have raised more money than the opposition during most of the campaign.

Pathmark Stores Inc. said shareholders Thursday approved California billionaire Ron Burkle's $150-million purchase of a 40% stake in the money-losing supermarket chain. More than 83% of the 21.9 million shares voted favored the proposal by Burkle's Yucaipa Cos., Carteret, N.J.-based Pathmark said, adding that the transaction is now completed. Pathmark will use the funds to reduce debt, renovate stores and open new ones, spokesman Harvey Gutman said. The company, which had $674.

A long-simmering feud between two former friends and investment partners spilled out into the open Thursday when Los Angeles billionaire Ron Burkle sued former Hollywood power broker Michael Ovitz. The lawsuit, filed in Los Angeles Superior Court, claims that Ovitz reneged on a promise to share the financial risks in two ill-fated Internet companies. Ovitz "literally cost Mr. Burkle millions of dollars" by leaving him holding the bag when CheckOut.com and Talk City.com went sour, the suit says.

Former Walt Disney Co. president and Hollywood agent Michael Ovitz won a legal victory over billionaire investor Ron Burkle in a Los Angeles courtroom Thursday. Los Angeles County Superior Court Judge Soussan Bruguera granted motions for summary judgment, preventing Burkle's claims against Ovitz stemming from two failed Internet ventures from going forward.

In what may be the unlikeliest pairing of hosts on Oscar weekend, designer Giorgio Armani announced Thursday that he would present the couture collection he showed recently in Paris at billionaire Ron Burkle's Green Acre Estates in Beverly Hills the night before the Academy Awards. "This is a particularly meaningful Oscar year for me as many of my friends are nominated," Armani said in a statement.