Media Moves

Bloomberg: Financial Times is not for sale

September 8, 2013

Posted by Chris Roush

Chris Smith of New York Magazine interviewed New York mayor Michael Bloomberg about a number of issues, including whether he’d buy the Financial Times, which has rumored to be for sale.

Here is an excerpt:

Does the future of journalism include you owning the Financial Times or the New York Times?
The Financial Times is not for sale. The New York Times is certainly not for sale.

But I’ve always said if you read Bloomberg Businessweek and The Economist cover to cover every week, you will know more than if you read the newspapers every day. And it’s probably true. And I think I’d say that about Businessweek even if it wasn’t owned by Bloomberg.

And if the Times were for sale?
I can’t answer a question like that. There are a handful of great newspapers with great journalism still. I don’t necessarily agree with their editorial policies or even their front page, but the Times is one of the great newspapers.

So you’d be interested.
As a reader, yes.

No, as a businessman.
I just can’t answer your question because you don’t know—I think the future of print journalism is problematic. Why Bezos bought the Post, I have no idea. He said that he wasn’t going to get involved in it. What’s the point of owning it if you don’t? Certainly not to make money. If you wanna have fun, buy the New York Post.

Read more here.

Subscribe to TBN

Receive updates about new stories in the industry daily or weekly.

Subscribe to TBN

Receive updates about new stories in the industry.