Michael Bloomberg May be Considering Bid for The Financial Times Group

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Image: businessinsider.com

After a recent visit to the London headquarters of The Financial Times, Michael Bloomberg has triggered reports that he is considering a bid to purchase The Financial Times Group, which includes the newspaper and a half interest in The Economist.

The New York Times reports that “three people close to Mr. Bloomberg who spoke on the condition of anonymity to divulge private conversations” indicated that he is “weighing the wisdom of buying The Financial Times Group.”

Often seen carrying The Financial Times “under his arm all day”, Bloomberg and a spokesman for him have not made any official statement or comment regarding the potential bid. According to The New York Times, another likely bidder is Thomson Reuters.

In an email, Charles Goldsmith, a spokesman for Pearson, the parent company of The Financial Times Group, said that the company “has not initiated any sort of sale process for The Financial Times and has no plans to do so.”

Media analyst Ian Whittaker told The New York Times, “My gut feeling is that if Bloomberg came in with a crazy bid, they’d probably accept it, but there’s no compelling reason to sell at the moment.”

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