Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

former Democratic presidential hopeful and former New York Mayor Mike Bloomberg arrives for the tenth Democratic primary debate of the 2020 presidential campaign season

Media mogul Mike Bloomberg looks to buy WSJ or the Washington Post

A merger would create a financial data and news giant, further firming up the world’s 12th-richest man’s stronghold.

A merger would create a financial data and news giant, further firming up the world’s 12th-richest man’s stronghold.

Billionaire Michael Bloomberg, the owner of Bloomberg LP, is interested in acquiring either Wall Street Journal parent Dow Jones or the Washington Post, news website Axios has reported, citing an unnamed source familiar with the matter.

Such a merger would create a financial data and news giant, further firming up the world’s 12th-richest man’s powerful hold on the business and likely allowing his company to sell more Bloomberg Terminals – the main source of its revenue.

According to the Axios report, Bloomberg sees News Corp-owned Dow Jones, also the publisher of Barron’s and MarketWatch, as the ideal fit but would buy the Post if Amazon.com Inc founder Jeff Bezos were interested in selling.

Bloomberg LP, the Washington Post and Dow Jones did not immediately respond to Reuters’ requests for comment.

Bloomberg has not reached out to Rupert Murdoch to discuss a possible acquisition and there are no active talks with the Murdochs as of now, a source familiar with the matter told Reuters, adding that it is unclear if Murdoch would be open to considering an offer.

In conversations with advisers over the years, Michael Bloomberg has expressed the desire to own a big-name newspaper that would allow him to influence the public conversation on issues like climate change and expand the reach of his business news empire, another source said.

Any tie-up would be closely reviewed by regulators, who would examine impacts on users of financial information services and the labour market for business journalists, according to antitrust lawyers.

“The transaction would be challenged only if the resulting choices leave insufficient competition in the market for either users or suppliers. So, the devil is in the [market] details.” said anti-trust lawyer Jonathan Rubin.

The Federal Trade Commission declined to comment. The Department of Justice and Federal Communications Commission did not immediately respond to a request for comment.

Shares of News Corp were up 3 percent in a broadly weaker market.



Calls for spin-off
In October, Rupert Murdoch had started a process that could reunite his media empire, News Corp and Fox Corp, nearly a decade after the companies split.

The proposal has, however, met stern opposition from several shareholders who said a combination on its own would fail to realise the full value of News Corp and have instead suggested a spin-off of the media company’s digital real estate business or Dow Jones as an alternative to the merger.

Activist investor Irenic Capital Management, which holds about 2 percent of News Corp’s Class B voting shares, wrote a November letter to Murdoch and the News Corp board that Dow Jones would be highly valued as a separately traded company.

Craig Huber, media analyst at Huber Research Partners, said he would be “shocked” if Murdoch sold the Wall Street Journal and has likely told his family not to sell it either.

“The WSJ is a trophy property to the Murdoch family,” he said, adding that the speculation is likely a result of his plan to reunite his media empire.

Bloomberg, 80, has not reached out to Murdoch, two sources familiar with the matter told Reuters.

Reuters competes with Bloomberg News, a unit of Bloomberg LP, as a provider of financial news.

Bloomberg, who is the co-founder and CEO of the media company, was mayor of New York City from 2002 to 2013, and was a candidate for the 2020 Democratic nomination for president of the United States.

AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
The conservative right spreads westward: a huge achievement for 'Alternative for Germany' in local elections
Pope Leo Warns of Societal Crisis Over Mega-CEO Pay, Citing Tesla’s Proposed Trillion-Dollar Package
Poland Green-Lights NATO Deployment in Response to Major Russian Drone Incursion
U.S. and China Agree on Framework to Shift TikTok to American Ownership
Le Pen Tightens the Pressure on Macron as France Edges Toward Political Breakdown
Czech Republic signs €1.34 billion contract for Leopard 2A8 main battle tanks with delivery from 2028
Penske Media Sues Google Over “AI Overviews,” Claiming It Uses Journalism Without Consent and Destroys Traffic
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
One in Three Europeans Now Uses TikTok, According to the Chinese Tech Giant
Could AI Nursing Robots Help Healthcare Staffing Shortages?
NATO Deploys ‘Eastern Sentry’ After Russian Drones Violate Polish Airspace
The New Life of Novak Djokovic
German police raid AfD lawmaker’s offices in inquiry over Chinese payments
Volkswagen launches aggressive strategy to fend off Chinese challenge in Europe’s EV market
France Erupts in Mass ‘Block Everything’ Protests on New PM’s First Day
Poland Shoots Down Russian Drones in Airspace Violation During Ukraine Attack
Apple Introduces Ultra-Thin iPhone Air, Enhanced 17 Series and New Health-Focused Wearables
Macron Appoints Sébastien Lecornu as Prime Minister Amid Budget Crisis and Political Turmoil
Vatican hosts first Catholic LGBTQ pilgrimage
Apple Unveils iPhone 17 Series, iPhone Air, Apple Watch 11 and More at 'Awe Dropping' Event
France joins Eurozone’s ‘periphery’ as turmoil deepens, say investors
France Faces New Political Crisis, again, as Prime Minister Bayrou Pushed Out
Nayib Bukele Points Out Belgian Hypocrisy as Brussels Considers Sending Army into the Streets
France, at an Impasse, Heads Toward Another Government Collapse
The Country That Got Too Rich? Public Spending Dominates Norway Election
EU Proposes Phasing Out Russian Oil and Gas by End of 2027 to End Energy Dependence
More Than 150,000 Followers for a Fictional Character: The New Influencers Are AI Creations
EU Prepares for War
Trump Threatens Retaliatory Tariffs After EU Imposes €2.95 Billion Fine on Google
Tesla Board Proposes Unprecedented One-Trillion-Dollar Performance Package for Elon Musk
Gold Could Reach Nearly $5,000 if Fed Independence Is Undermined, Goldman Sachs Warns
Uruguay, Colombia and Paraguay Secure Places at 2026 World Cup
Trump Administration Advances Plans to Rebrand Pentagon as Department of War Instead of the Fake Term Department of Defense
Big Tech Executives Laud Trump at White House Dinner, Unveil Massive U.S. Investments
Tether Expands into Gold Sector with Profit-Driven Diversification
‘Looks Like a Wig’: Online Users Express Concern Over Kate Middleton
Florida’s Vaccine Revolution: DeSantis Declares War on Mandates
Trump’s New War – and the ‘Drug Tyrant’ Fearing Invasion: ‘1,200 Missiles Aimed at Us’
"The Situation Has Never Been This Bad": The Fall of PepsiCo
At the Parade in China: Laser Weapons, 'Eagle Strike,' and a Missile Capable of 'Striking Anywhere in the World'
The Fashion Designer Who Became an Italian Symbol: Giorgio Armani Has Died at 91
Putin Celebrates ‘Unprecedentedly High’ Ties with China as Gazprom Seals Power of Siberia-2 Deal
China Unveils New Weapons in Grand Military Parade as Xi Hosts Putin and Kim
Rapper Cardi B Cleared of Liability in Los Angeles Civil Assault Trial
Google Avoids Break-Up in U.S. Antitrust Case as Stocks Rise
Couple celebrates 80th wedding anniversary at assisted living facility in Lancaster
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
The White House on LinkedIn Has Changed Their Profile Picture to Donald Trump
"Insulted the Prophet Muhammad": Woman Burned Alive by Angry Mob in Niger State, Nigeria
Trump Responds to Death Rumors – Announces 'Missile City'
×