RISKY BUSINESS

Bloomberg Considers Buying the FT

Valued at $1.2 billion.

American mall goers aren’t the only ones with the shopping bug this season. Michael Bloomberg’s media group is considering purchasing The Financial Times Group, which includes the paper and a half interest in The Economist, according to three sources close to the situation. Bloomberg—who has long held an affinity for the newspaper—initially visited its London headquarters in October. “It’s the only paper I’d buy,” he told one associate. Friends say the paper’s “punchy and to-the-point” articles match his own clever demeanor. The Financial Times Group is valued at about $1.2 billion, and is not up for sale yet, but could be early next year.