July 30 (Bloomberg) -- MySpace.com Inc. co-founder Brad Greenspan made a new proposal to invest $600 million in cash and stock in three joint ventures with Dow Jones & Co. and said he has received interest from five ``credible'' investor groups.

Greenspan sent a letter to the board of New York-based Dow Jones seeking materials for due diligence, and his investors can meet this week ``to firm investment commitments,'' he said in a statement distributed today by PR Newswire.

Greenspan has made several proposals to Dow Jones since Rupert Murdoch's News Corp. made its $5 billion acquisition offer public in late April.

He led an investment group that offered $60 a share for a 25 percent stake in Dow Jones, according to a press release he issued June 20. Earlier this month, Greenspan said the investment group would lend $400 to $600 million to the controlling Bancroft family to buy out members who wish to sell.

Greenspan has not disclosed who would provide funding for his proposals.

Murdoch's News Corp. acquired MySpace parent Intermix for $580 million in 2005. Last year, Greenspan filed a lawsuit against MySpace and demanded a federal probe of the buyout, which he said defrauded shareholders. A judge dismissed the suit.

To contact the reporter on this story: James Temple in San Francisco at jtemple@bloomberg.net;

Last Updated: July 30, 2007 21:52 EDT