HomeInvestmentsMichael Bloomberg Eyes Dow Jones or "Washington Post" Sale

Michael Bloomberg Eyes Dow Jones or “Washington Post” Sale

Bloomberg L.P. owner Michael Bloomberg is looking into the purchase of either The Wall Street Journal parent company Dow Jones or The Washington Post, news website Axios reported on Friday. The motive behind the acquisition would be to merge the companies to create a financial news giant, thereby establishing a firm grasp on a significant market share.

While Bloomberg has prioritized the purchase of the News Corp-owned Dow Jones as his ideal target, he would also consider purchasing the Post should Amazon founder Jeff Bezos express an interest in selling the media outlet. In addition to The Wall Street Journal, News Corp also publishes Market Watch and Barrons. The company’s stock went up 3% following news of Bloomberg’s interest.

In contrast with Bloomberg’s plan, News Corp owner Rupert Murdoch announced in October his intention to start a process that would reunite two of his companies, News Corp and Fox Corp, nearly a decade after their split. This plan however was met with widespread resistance from shareholders feel as if the merger is not the best move forward.

Craig Huber, a media analyst at Huber Research Partners, believes that there is little likelihood that Murdoch would sell to Bloomberg, calling WSJ a “trophy property of the Murdoch family.

U.S. Homeowners Remain In Homes Longer Than They Did 20 Years Ago

A study by real estate brokerage Redfin found that U.S. homeowners are remaining in their existing homes for longer than they did 20 years...

PCE Index Expected to Rise By Most in a Year

The personal consumption expenditures (PCE) price index, known to be the Federal Reserve's preferred inflation gauge, is expected to rise at its quickest pace...

Warner Bros. Discovery Misses Earnings Estimates

Warner Bros. Discovery fell short of expectations when releasing its fourth-quarter earnings on Friday. The company reported a revenue of $10.28 billion, missing the...