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Media mogul Michael Bloomberg looking to buy Dow Jones or Washington Post- Axios

December 23, 2022 at 09:15 am EST

(Reuters) - Billionaire Michael Bloomberg, the owner of Bloomberg News, is interested in acquiring either Wall Street Journal parent Dow Jones or the Washington Post, Axios reported on Friday, citing a source familiar with the matter.

Axios, citing the source, said Bloomberg would be interested in a potential acquisition of either companies, but Dow Jones would be a stronger target.

Dow Jones, owned by News Corp, publishes the Wall Street Journal, Barron's and MarketWatch.

In October, Rupert Murdoch had started a process that could reunite his media empire, News Corp and Fox Corp, saying they would consider combining at his behest, nearly a decade after the companies split.

The proposal has met opposition from shareholders, saying a combination on its own would fail to realize the full value of News Corp.

Bloomberg wants to expand his media empire and sees Dow Jones as his ideal fit, but he would buy the Post if Jeff Bezos were interested in selling, Axios reported.

Bloomberg, the Washington Post and Dow Jones did not immediately respond to Reuters' requests for comment.

(Reporting by Nivedita Balu in Bengaluru; Editing by Krishna Chandra Eluri)

Stocks mentioned in the article

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	FOX CORPORATION	31.21 USD	-1.48%	-0.57%	14.26B
	NEWS CORPORATION	24.22 USD	+0.04%	+0.83%	13.95B

Michael Bloomberg

Current New York Mayor Michael Bloomberg is also the founder and owner (88 %) of Bloomberg LP, a company of services destined to financial market professionals. With a fortune estimated by Forbes to $ 18.1 billion, Michael Bloomberg is the 30th richest person in the world.

Graduated in Sciences in 1964, Michael Bloomberg obtained a MBA at Harvard Business School. His career as a businessman is launched when he partnered with the investment bank Salomon Brothers where he was in charge of sales and later, systems development.

In 1981, Michael Bloomberg is fired from Salomon Brothers, his severance pay, amounting to $ 10 million, is immediately invested in the creation of Innovative Market Systems, a company which provides financial services.

In 1981, the company was renamed Bloomberg LP. Initially focused on the use of historical data base on curves of US borrowing rate, the company extended its services to professionals by opening up to the economic and financial information as well as news agency as through many media: television, radio, press, internet and books.

In 2008, the group Bloomberg LP employed about 10.000 employees present in more than 130 countries.

In 2001, Michael Bloomberg, anxious to avoid the democratic primary, chose to run as a candidate in the election of the New York Mayor for the Republican Party. He spent $ 70 million of his personal fortune in order to campaign. He won the election in November 2001 with 50 % of the vote against Democrat Mark Green.

On November 8, 2005, Michael Bloomberg is re-elected for a second term of office for a period of 4 years with 59 % of the vote against Fernando Ferrer. He invested $ 50 million to win.

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