Media mogul Michael Bloomberg looks to buy Dow Jones or Washington Post

Billionaire Michael Bloomberg, the owner of Bloomberg LP, is interested in acquiring either the Wall Street Journal parent company Dow Jones or the Washington Post, Axios reported on Friday, citing an unnamed source familiar with the matter.

Such a merger would create a financial data and news giant, further firming up the world’s 12th richest man’s stronghold on the business and probably allowing his company to sell more Bloomberg Terminals – the main source of its revenue.

According to the Axios report, Bloomberg sees News Corp-owned (NWSA.O) Dow Jones, also the publisher of Barron’s and MarketWatch, as the ideal fit but would buy the Post if the Inc (AMZN.O) founder, Jeff Bezos, was interested in selling.

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

Shares of News Corp were up 3% in a broadly weaker market.

In October, Rupert Murdoch started a process that could reunite his media empire, News Corp and Fox Corp (FOXA.O), nearly a decade after the companies split.

The proposal has, however, met with stern opposition from several shareholders who say a combination on its own would fail to realise the full value of News Corp and have instead suggested a spin-off of the media company’s digital real estate business or Dow Jones as an alternative to the merger.

Craig Huber, a media analyst at Huber Research Partners, said he would be “shocked” if Murdoch sold the Wall Street Journal and has probably told his family not to sell it either.

“The WSJ is a trophy property to the Murdoch family,” he said, adding that the speculation is possibly a result of his plan to reunite his media empire.

Reuters competes with Bloomberg News, a unit of Bloomberg LP, as a provider of financial news.


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