The New York Post reports that Merrill Lynch & Co. has closer to selling its 20 percent stake in Bloomberg LP, and the buyer is the blind trust of Michael Bloomberg.
“A spokeswoman at Merrill declined to comment, and calls to the Mayor’s office were directed to Bloomberg, where a spokeswoman also declined to comment.
“Merrill also is said to be working out ways to sell its 49-percent share in asset-management firm BlackRock, as well as other moves to shore up its balance sheet.
“When Bloomberg became mayor in 2002, he put his 68 percent stake in Bloomberg LP into a blind trust. He also gave up running the company.”
Read more here.
Wall Street Journal editor in chief Emma Tucker sent out the following on Thursday: Today we announced…
Clare Malone of The New York writes about Hunterbrook, which is using reporting from journalists to…
The Hollywood Reporter awards editor Tyler Coates is leaving the news organization. His last day will be…
Laura Purkess has been promoted to consumer features editor at The Sun. She will maintain…
Pat Ferrier, senior business reporter at the Coloradoan in Fort Collins, is retiring after 23…
Financial news site TheStreet.com has hired Conway Gittens as an anchor and video producer. His most recent…
View Comments
I am afraid that even with the asset sales and due to the huge potential write downs in the future, MER will still be losing money in the short term.