Bloomberg Mulls Bid For 'Financial Times'
New York Mayor Michael Bloomberg and Thompson Reuters are both potential bidders to buy the Financial Times and a half interest in The Economist. Since both companies compete on sales of "financial data-splicing computers that sit atop traders’ desks on Wall Street," either deal could mean that "one of the world’s most respected and distinctive financial newspapers could end up as a trophy to help sell more computer terminals," writes Amy Chozick and Michael Barbaro. Bloomberg is ambivalent, though -- and the paper so far is not for sale, though at least "one media banker with knowledge of the company expects the paper to be shopped around early next year."
"Does Michael Bloomberg really need to own more of the media, though? One could easily argue that Bloomberg's stranglehold on financial news makes him more powerful than Rupert Murdoch," writes Adam Clark Estes on the Atlanticwire.com.