1 vote

Mayor Bloomberg weighs buying Financial Times: NYT

Mayor Bloomberg weighs buying Financial Times: NYT

Mon Dec 10, 2012 12:07am EST

(Reuters) - New York City Mayor Michael Bloomberg is weighing up whether to make a bid for The Financial Times Group, which includes the namesake paper and a half interest in The Economist magazine, the New York Times reported, citing three people close to the mayor.

Pearson Plc, the publisher of FT, is about to lose two of its top executives, raising speculation the paper could be up for sale.

Analysts value The Financial Times Group at about $1.2 billion, well within the reach of Bloomberg LP, which in 2011 had revenue of $7.6 billion, the paper said. (link.reuters.com/daq54t)

One media banker with knowledge of the company expects the paper to be sold around early next year, the New York Times said.

Read more: http://www.reuters.com/article/2012/12/10/us-financialtimes-...