Looks like there won’t be a News Corp. purchase of Dow Jones, at least not today … maybe. Rupert Murdoch, spotted last night by our sources at the welcome barbecue, was seen strolling into the Sun Valley Inn, where the meetings of minds and egos take place.

Reporters camped out at the 25th annual Allen & Co. meeting of media and tech elites will be keeping a close eye on Murdoch’s every move, every cellphone call, every bathroom break.

Murdoch’s wife Wendi Deng, recently named Chief of Strategy at MySpace China, a joint venture,  accompanied him.

Murdoch’s son Lachlan, who left the company in 2005 to start an Australia-based company Illyria, was also seen strolling into the meeting room this morning. Asked by reporters if his attendance signaled an imminent return to News Corp., he would only say: “It’s just a great place to come. I’m looking forward to it very much.”

Dow Jones has made a final pitch to cast for alternative offers to Murdoch’s $5 billion bid to buy the publisher of the Wall Street Journal. On Monday, Dow Jones met with supermarket magnate Ron Burkle and Internet entrepreneur Brad Greenspan, who the Journal reported, has lined up an offer with EchoStar and the venture capital arm of Intel to buy half of Dow Jones.

(Photos: Reuters/Rick Wilking)