Published On: Sun, Jan 25th, 2015

Will Michael Bloomberg Buy the NY Times?

 (Photo by D Dipasupil/Getty Images)

Michael R. Bloomberg is interested in buying the New York Times. This according to a report in New York Magazine.

The magazine sites a source close to Bloomberg that said the billionaire told the New York Times publisher Arthur Sulzberger Jr. as much just before he left office as Mayor of New York.

A source told the magazine that longtime Bloomberg political advisor Kevin Sheekey recommended the move saying, “Kevin has long been a vocal enthusiast to Mike about this. Sulzberger needs to go somewhere for money. We know they have a real issue, and Mike is an obvious person he’d turn to.”

Rumors have been flying about such an acquisition by Bloomberg’s media empire due to the NT Times’ financial woes and recent layoffs.

Rupert Murdoch, a friend of Bloomberg’s, tweeted about the possibility, “Is there a price for lifetime happiness for generous but bored, public spirited multibillionaire? Mike Bloomberg can easily afford NY Times.”

At the same time Bloomberg LP was forced to delay the launch of an overhauled version of its website.

“The site just isn’t quite there yet, and we don’t want to turn it on until it’s 100% ready. But it will be ready very soon, ” a Bloomberg spokesperson said.

Josh Topolsky, editor of Bloomberg Digital, tweeted last week, “Really excited about the @business launch — we’re taking a few extra days to fine tune, CANNOT wait to share it with you guys.”

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