Aides to New York City Mayor Michael Bloomberg are reportedly urging him to considering merging his financial information firm Bloomberg LP with the beleaguered New York Times.
The subject of a Bloomberg merger was first broached by Michael Wolff in the May issue of Vanity Fair magazine.
“It’s the most logical idea in the newspaper business,” Wolff told the New York Post.
“The New York Times is vulnerable, and Bloomberg is a potential buyer who has the money, the credibility, the interest and the chops.”
The Times has been under attack from dissident shareholders unhappy with the company’s share price. Some members of the Sulzberger family, which controls the Times, are looking for a “protector” to fend off further attacks, the Post reported.
Bloomberg aides believe he can take the company private and “help protect the brand,” according to Newsweek magazine.
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