Chatter about either Bloomberg or Reuters purchasing British financial newspaper The Financial Times has been growing for a while.Now from Amy Chozick and Michael Barbaro at The New York Times, the most detailed confirmation yet that Bloomberg is considering a bid.
Michael R. Bloomberg is weighing the wisdom of buying The Financial Times Group, which includes the paper and a half interest in The Economist, according to three people close to Mr. Bloomberg who spoke on the condition of anonymity to divulge private conversations.
Mr. Bloomberg has long adored The Economist, and his affinity for the paper, at least as a reader, has deepened lately.
It’s clear nothing’s set in stone yet. The FT’s owner Pearson hasn’t actually put it on the block yet. An estimated price tag of about $1.2 billion could be what the paper goes for. One concern of Bloomberg’s, reportedly, is that it could drag down the overall profitability of the Bloomberg LP.
According to the report, others in the organisation would prefer Bloomberg make a big digital acquisition, such as LinkedIn.