OLD Media Moves

Bloomberg should buy Newsweek

November 25, 2009

Marketwatch.com media columnist Jon Friedman, a former Bloomberg staffer, argues that the growing news and data company should have acquired general interest magazine Newsweek instead of BusinessWeek.

Friedman writes, “Knowing that Bloomberg truly hopes to expand its capabilities to a non-Wall Street marketplace, Let me make my pitch: Why not try to buy Newsweek from the Washington Post Co.?

“Newsweek, officially, is not for sale. But come on. Everything is up for grabs at the right price — especially during a recession. Newsweek would offer a suitor many rewards: a world-class brand name, tremendous general-interest appeal and a talented staff of veterans. The magazine boasts such star writers as Fareed Zakaria, Evan Thomas and Jonathan Alter.

“Newsweek’s influence could help enhance Michael Bloomberg’s prestige in Washington. Bloomberg founded the company bearing his name, amassed a multi-billion personal fortune and won three terms as the mayor of New York.”

Read more here.

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