OLD Media Moves

Would Bloomberg buy New York Times?

January 4, 2008

Posted by Chris Roush

Jeff Bercovici of Conde Nast Portfolio writes Friday about the possibility of Mike Bloomberg, majority owner of Bloomberg LP, purchasing the New York Times. He admits it’s an unlikely scenario.

Bloomberg logoBercovici wrote, “Even assuming the Sulzbergers would sell, however, there’s the question of whether Bloomberg would buy. Unlike Rupert Murdoch, who is a lifelong newspaperman, Bloomberg’s roots are in electronic media, notes Atorino.

“But Mike Vorhaus, senior vice president and managing director at Frank N. Magid Associates, believes Bloomberg would be interested in the Times Co. at the right price.

“‘If you’re looking for a great offline brand and a great online brand, they’re about as good as you’re going to get,’ he says.

“‘The only reason it’s unimaginable is if you think [the Sulzbergers] just will not sell. But it would not surprise me if the family was willing to sell, and it would not surprise me to see a healthy competition among media companies to buy The New York Times.'”

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