So Newsweek is reporting, though details are very sketchy and preliminary for now: it reports that Michael Bloomberg's friends are encouraging him to explore the idea of a Bloomberg-New York Times (NYSE: NYT) merger. The reasoning: the proponents of the merger are appealing to the mayor's sense of "civic-mindedness," arguing that he is best suited to take the publishing company private to "help protect the brand" in the wake of relentless shareholder assaults on NYT.
In the past, rumors have circulated that Carlyle Group was looking at a possible Bloomberg takeover, but that didn't pan out.
More to come
By Rafat Ali