General Electric Co.
said Thursday it has abandoned talks with Financial Times publisher Pearson PLC
about a possible bid for Dow Jones & Co.
, removing a potential rival to News Corp.'s $5 billion offer for the financial news publisher.
GE said it and London-based Pearson
had held exploratory talks about combining GE's CNBC business news cable channel, Pearson's Financial Times newspaper and Dow Jones, which publishes The Wall Street Journal, Barron's and Dow Jones Newswires.
Control of Dow Jones could bolster News Corp. chief Rupert Murdoch's plan to launch a financial cable news channel that would compete
with NBC Universal's CNBC.
© 2007 CBS Interactive Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.