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Why Bloomberg Won't Buy the New York Times
by Felix Salmon
Apr 21, 2008
Apr 21, 2008
Newsweek and the NY Post are today resuscitating one of the perennial rumors in medialand: that Mike Bloomberg will somehow end up buying the New York Times. If the Sulzberger family was amenable - and that's a big if - then Bloomberg could certainly afford it: the New York Times Company has an enterprise value of $3.7 billion, which is less than the value put on the 20% stake in Bloomberg LP held by Merrill Lynch. (The other 80% is owned by Mike Bloomberg personally.)
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