Mayor Bloomberg has an eye on the FT

Michael Bloomberg, the billionaire Mayor of New York, is considering whether to make a bid for the Financial Times, amid renewed speculation that the paper's owner, Pearson, will be ready to sell soon.

The New York Times quoted three people close to the mayor, the founder of the financial news and information giant Bloomberg.

But there are also said to be senior figures within the Bloomberg group who are sceptical about buying the FT and reckon it should instead buy a digital brand such as the job-networking website LinkedIn.

Some analysts reckon the FT Group, which also includes a half-stake in The Economist, could be worth as much as £1bn.

Speculation about a sale is growing because Pearson's chief executive, Dame Marjorie Scardino, and the FT Group CEO, Rona Fairhead, are both stepping down.

Robin Freestone, Pearson's chief financial officer, said last month: "Are we the best owners for it? So far the answer is yes. That could change."

Comments