News outlet Axios is reporting that Michael Bloomberg is interested in acquiring News Corp.‘s Dow Jones business or the Washington Post, which is owned by Jeff Bezos.
Bloomberg is considering expanding his media footprint and sees Dow Jones as an ideal fit, but would buy the Post if Jeff Bezos were interested in selling, reported Axios. Dow Jones provides financial information and news through its wire service and through the Wall Street Journal. A Dow Jones deal would give Bloomberg access to a business title that could be used to sell more subscriptions to the Bloomberg Terminal, a data, news and analysis platform for financial professionals.
News Corp. has announced it is exploring merging with sister company, Fox Corp., the news of which has produced a mixed reception. One activist investor with a position in News Corp., Irenic Capital Management, has publicly suggested the company spin off Dow Jones as an alternative to a merger. Both News Corp. and Fox Corp. are principally owned by Rupert Murdoch.
Axios reported that the Washington Post has lost subscribers in a post-Trump era, and that it is on track to lose money this year. The Axios story relied on a source familiar with Bloomberg’s thinking but did not identify the person.
Neither target has acknowledged a potential deal. According to Axios, Bloomberg hasn’t approached Murdoch or hired any advisers to evaluate the move. A Washington Post spokesperson told Axios that the company is not for sale. A spokesman for Bloomberg, Ty Trippet, said in a tweet that the firm hasn’t been discussing an acquisition with either organization.