2LT International News
Bloomberg media weighs purchase of Dow Jones or Wash Post
Dec 27, 2022
NEW YORK CITY, New York: According to news website Axios, billionaire Michael Bloomberg, owner of Bloomberg News, is seeking to acquire either Wall Street Journal parent Dow Jones or the Washington Post.
Such a merger would create a financial data and news giant, further strengthening the world’s 12th richest man’s stronghold in the media business, while allowing his company to sell more Bloomberg financial news terminals – the main source of the company’s revenues.
According to the Axios report, Bloomberg sees News Corp-owned Dow Jones as the ideal fit, but would buy the Post if Amazon.com Inc founder Jeff Bezos considers selling it.
Craig Huber, media analyst at Huber Research Partners, said he would be “shocked” if Murdoch sold the Wall Street Journal and has likely 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 likely a result of Bloomberg’s plans to restructure his media empire.
