0 7 . ▁The ▁Dow ▁Jones ▁brand ▁brings ▁instant ▁cred ibility ▁to ▁the ▁project . ▁ ▁On ▁June ▁ 6 , ▁ 2 0 0 7 , ▁CE O ▁Brian ▁Tier ney ▁of ▁Philadelphia ▁Media ▁Hold ings ▁L . L . C ., ▁ow ning ▁company ▁of ▁The ▁Philadelphia ▁In qu ir er , ▁Philadelphia ▁Daily ▁News , ▁and ▁Phil ly . com , ▁went ▁public ▁in ▁an ▁article ▁on ▁Phil ly . com ▁express ing ▁interest ▁in ▁" jo ining ▁with ▁outside ▁partners ▁to ▁buy ▁Dow ▁Jones ." ▁Tier ney ▁said , ▁" We ▁would ▁particip ate ▁as ▁Philadelphia ▁Media ▁Hold ings , ▁along ▁with ▁other ▁invest ors . ▁We ▁wouldn ' t ▁do ▁it ▁alone ." ▁ ▁In ▁June , ▁My Space ▁co - found er ▁Brad ▁Gre ens pan ▁put ▁forth ▁a ▁bid ▁to ▁buy ▁ 2 5 % ▁of ▁Dow ▁Jones ▁for ▁$ 6 0 ▁a ▁share , ▁the ▁same ▁price ▁per ▁share ▁as ▁News ▁Corporation ' s ▁bid . ▁Gre ens pan ' s ▁offer ▁was ▁for ▁$ 1 . 2 5 ▁billion ▁for ▁ 2 5 % ▁of ▁the ▁company . ▁ ▁On ▁July ▁ 1 7 , ▁ 2 0 0 7 , ▁The ▁Wall ▁Street ▁Journal , ▁a ▁unit ▁of ▁Dow ▁Jones , ▁reported ▁that ▁the ▁company ▁and ▁News ▁Corporation ▁had ▁agreed ▁in ▁principle ▁on ▁a ▁US $ 5 ▁billion ▁take over , ▁that ▁the ▁offer ▁would ▁be ▁put ▁to ▁the ▁full ▁Dow ▁Jones ▁board ▁on ▁the ▁same ▁evening ▁in ▁New ▁York , ▁and ▁that