Bloomberg wants to buy off the competitors to further expand his empire
Michael Bloomberg eyes a deal to purchase the Dow Jones financial agency or The Washington Post
Billionaire businessman and media mogul Michael Bloomberg is reportedly interested in acquiring either Dow Jones, the parent company of the Wall Street Journal, or the Washington Post.
It is reported he wants to expand his media empire and he sees the Dow Jones as the ideal fit. The potential acquisition would have a significant impact on the media landscape, as the combination of Bloomberg and Dow Jones would create an unparalleled business news behemoth.
Dow Jones publishes financial titles such as the Wall Street Journal, Barrons, and MarketWatch. Overall the potential acquisition of either Dow Jones or the Washington Post by Bloomberg would be a major development in the media industry.
The acquisition of Dow Jones would give Bloomberg access to a premier business title that could be leveraged to sell more subscriptions to the Bloomberg Terminal, a real-time data, news and analysis platform for financial professionals which makes up the majority of Bloomberg’s revenue.
On the other hand, the Washington Post, while less of an obvious fit, could help amplify Bloomberg’s federal government coverage which includes Bloomberg Law and Bloomberg Government. However, the Post is not for sale as the company is on track to lose money this year and has lost digital subscribers.
It is worth noting that Bloomberg is close to the owner of the Washington Post, Jeff Bezos. Bloomberg has a history of acquiring professional news companies and folding them into its media strategy, such as the Bureau of National Affairs which he bought for $990 million.
The acquisition of either of the two would be a major development and it would be interesting to see if any further developments emerge in the future.
