News from all over - New York
Mayor Bloomberg has been encouraged by advisers in his inner circle to consider making a bid for The New York Times after he leaves office, Newsweek magazine reports.
A source with close ties to the billionaire media magnate told the magazine that a friendly Bloomberg News-New York Times merger appealed to the mayor's sense of "civic-mindedness." "It is clearly a brand that Bloomberg could help preserve and that he cares about immensely ... and could pay a competitive price" for, the source said of The Times.
As shares in The Times company have dropped precipitously in recent years, speculation of a takeover has increased.
Rupert Murdoch, CEO of News Corp., has been positioning The Journal in recent months to compete more directly with The Times on a variety of topics, rather than just business coverage. Murdoch told Newsweek that Bloomberg would be a formidable adversary. "I wouldn't look forward to going up against him," he told the magazine.
Bloomberg's term as mayor ends next year, and it remains unclear where he will devote his managerial prowess and $11.5 billion fortune.
Source
A source with close ties to the billionaire media magnate told the magazine that a friendly Bloomberg News-New York Times merger appealed to the mayor's sense of "civic-mindedness." "It is clearly a brand that Bloomberg could help preserve and that he cares about immensely ... and could pay a competitive price" for, the source said of The Times.
As shares in The Times company have dropped precipitously in recent years, speculation of a takeover has increased.
Rupert Murdoch, CEO of News Corp., has been positioning The Journal in recent months to compete more directly with The Times on a variety of topics, rather than just business coverage. Murdoch told Newsweek that Bloomberg would be a formidable adversary. "I wouldn't look forward to going up against him," he told the magazine.
Bloomberg's term as mayor ends next year, and it remains unclear where he will devote his managerial prowess and $11.5 billion fortune.
Source
