Bloomberg To Buy New York Times?
Buried in a Newsweek story about the Wall Street Journal is this nugget:
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As NEWSWEEK has learned, top associates of the onetime information executive are encouraging him to do just that…
In a farewell column in January marking his retirement, Journal managing editor Paul Steiger touted the possibility of a friendly Bloomberg-Times merger. In NEWSWEEK interviews last week, a member of Bloom-berg’s inner circle confirmed that the mayor’s confidants and closest associates are, in fact, encouraging him to explore the idea. The Bloomberg source wasn’t authorized to publicly discuss the matter and, as a result, insisted on anonymity. Through a spokes-man, Bloomberg declined to comment. According to the source, the proponents of the merger are appealing to the mayor’s sense of “civic-mindedness,” arguing that he is best suited to take the publishing company private to “help protect the brand” in the wake of relentless shareholder assaults. “It is clearly a brand that Bloomberg could help preserve and that he cares about immensely … and could pay a competitive price” for, says this person.
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