New York’s Mayor, Michael Bloomberg, is planning to expand his business in the field of media. After a successful run of economic research institutions and media Bloomberg LP, Michael now vied for ownership of the Financial Times Group, which has many product lines.
Reuters reported, Bloomberg vied The Financial Times after rumors circulated stating that the media conglomerate would sell because need a capital injection. Three sources close to Bloomberg said that the talks now underway between Bloomberg by Pearson Plc, owner of the Financial Times company.
“The transaction likely take place in early 2013,” Michael said.
According to analyst estimates, the Financial Times has a value of USD 1.2 billion. This figure sales donated media publications such as The Economist magazine. Therefore, acquisition rumor Financial Times is reinforced by the fact that its market value is far below the Bloomberg revenues reached USD $ 7.6 billion in 2011.
But on the other side comes issues that internal Bloomberg rejected this corporate action plan. One faction holds that the company better buy digital media, such as LinkedIn, which has bright market prospects value and load operations is lower than the conventional media. Daniel Doctoroff, Chief Executive Officer of Bloomberg has ever expressed doubts over the prospects of the business print media.
As confirmed on this point, Bloomberg’s management declined to comment. Similarly, with representatives of Pearson Plc. Now Bloomberg has many businesses that are engaged in a variety of sectors. In addition to media such as The Bloomberg LP, The Bloomberg Businessweek, The Bloomberg Television and The Bloomberg Radio, the company also controlled the Government consultants, law firms, business software manufacturer The Bloomberg Terminal financial as well as luxury properties The Bloomberg Tower.