Mayor Says Bloomberg LP Not For Sale Now
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
NEW YORK (AP) – Mayor Bloomberg has said that the company he founded, financial news and data provider Bloomberg LP, is not for sale now.
“While I have recently been approached by potential buyers of Bloomberg LP, I have decided not to sell the company at this time,” Mr. Bloomberg said Wednesday during a quarterly video address to company employees.
Mr. Bloomberg conceded, however, that “there will come a day – I hope later rather than sooner – when I or my estate will have to sell.”
For years, the mayor has said that his next career will be leading a philanthropic foundation he plans to create after the sale of the multibillion dollar company that bears his name.
Bloomberg is a private company majority-owned by Michael Bloomberg and based in New York. Bloomberg provides real-time and archived financial and market data, pricing, trading, news and communications tools to companies, news organizations and financial and legal professionals. Bloomberg’s media services include more than 1,900 employees in 125 bureaus worldwide, and encompass terminal feeds, television, radio and magazine channels.
