According to a source, billionaire Michael Bloomberg is interested in purchasing either Dow Jones, the parent company of the Wall Street Journal, or the Washington Post in order to extend his media empire.
Axios claimed on Friday, citing sources “familiar with Bloomberg’s thinking,” that Bloomberg wants to grow his media empire and views Rupert Murdoch’s Dow Jones as a great fit.
According to the story, the former mayor of New York would also be interested in purchasing the Washington Post if owner Jeff Bezos decides to sell.
Dow Jones and Bloomberg Media’s merger would create a business news behemoth by combining Bloomberg News and its profitable terminal business with Dow Jones, the publisher of financial publications such as The Wall Street Journal, Barron’s, and MarketWatch.
News Corp., which also owns the New York Post, is the owner of Dow Jones. According to Axios, Bloomberg has not yet approached Murdoch about his interest, nor has he hired other parties, such as bankers, to assess the offer.
Axios reported that Bloomberg wants to expand his financial news and services company and is seeking purchase opportunities.
As for Bezos, Bloomberg is “not close” with the Amazon founder, according to a source, who added that Bloomberg Media and The Washington Post would be a “formidable” competitor for The New York Times.
Bloomberg and The Washington Post representatives did not immediately respond to calls for comment. News Corporation refused to comment.
According to the story, Bloomberg supports a Dow Jones merger, but he would also purchase The Washington Post.
Bloomberg, who is close to Murdoch, reportedly believes that plans to integrate News Corp and its sister business Fox Corp “will fail, creating a potential opportunity.”
Irenic Capital Management, an activist investor that owns 2% of News Corp’s Class B shares, stated last month that News Corp should spin off portions of its business, such as its real estate platform or Dow Jones, to unlock value for investors.
»Bloomberg is apparently interested in acquiring WSJ parent company Dow Jones and Washington Post«