New reports are emerging around media giant News Corp. (NASDAQ:NWSA) that suggest Bloomberg may have an acquisition in mind. The latest word suggests that Michael Bloomberg is interested in a new media property. Right now, it’s one of two possibilities: either the Washington Post, currently owned by Amazon’s Jeff Bezos (NASDAQ:AMZN), or the parent company of the Wall Street Journal, Dow Jones, which is owned by News Corp.
Bloomberg, reports note, looks for the reunification of News Corp. and Fox to falter. This, in turn, may open up the potential to pick up another property instead.
Currently, Bloomberg has approached no one about this move. No bankers and neither Murdoch nor Bezos have been consulted. However, a News Corp. committee is exploring the notion of reunification harder. Reports suggest that the combination of Bloomberg and Dow Jones would create a major new silo for business news. However, other reports note that News Corp. activist investors are looking for the company to spin off some business for the sake of investors.
Such a move might go some way toward settling the concerns of hedge funds, which have been clearly concerned about News Corp’s trajectory of late. Not only did hedge funds sell 1.7 million shares last quarter, but the sell-off has also been going on for some time. As a result, the current sentiment around News Corp. is negative.
