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Merrill Lynch & Co. (NYSE: MER) may wind up selling its 20% stake in Bloomberg L.P., the parent of Bloomberg News, to Mike Bloomberg.

Bloomberg, whose personal fortune is estimated by Forbes magazine at $5 billion, can easily afford the buy back the 20% stake in his company that he does not already own. Given its financial condition, Merrill better hope that the New York mayor is willing to open his check book. Other media companies are not going to shell out big bucks for a minority stake in the company where I worked for seven years. This is especially true given that many of Bloomberg's biggest customers in Wall Street are cutting spending given the uncertainties in the world's financial markets.

Maybe the private equity players would be willing to pay up provided that they could see an exit strategy through an IPO. I don't see that happening either. Bloomberg, which the Wall Street Journal says has the right of first refusal for the sale, likes being a private company because it enables it to march to the beat of its own drummer. That was especially true when Mike Bloomberg ran the show.

Continue reading The logical buyer for Merrill's Bloomberg stake is Mike Bloomberg

The logical buyer for Merrill's Bloomberg stake is Mike Bloomberg originally appeared on BloggingStocks on Mon, 07 Jul 2008 15:18:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>Bloomberg LPBloomberg NewsBloombergLpBloombergNewscolumnfeaturedjonathan berrJonathanBerrlandmark communicationsLandmarkCommunicationsmedia worldMediaWorldmike bloombergMikeBloombergNWSTOCWeather ChannelWeatherChannelMon, 07 Jul 2008 15:18:00 EST<![CDATA[Disney, CBS, GE, see blue skies ahead for The Weather Channel]]>http://www.bloggingstocks.com/2008/03/06/disney-cbs-ge-see-blue-skies-ahead-for-the-weather-channel/http://www.bloggingstocks.com/2008/03/06/disney-cbs-ge-see-blue-skies-ahead-for-the-weather-channel/http://www.bloggingstocks.com/2008/03/06/disney-cbs-ge-see-blue-skies-ahead-for-the-weather-channel/#commentsFiled under: , , , , , ,

Whomever buys The Weather Channel will probably see nothing but blue skies.ss

According to The New York Times' DealBook, The Walt Disney Company (NYSE: DIS), CBS Corp. (NYSE: CBS), General Electric Company (NYSE: GE)'s NBC, Time Warner Inc. (NYSE: TWX), Comcast Corp. (NASDAQ: CMCSA) and Liberty Media Inc. (NASDAQ: LINTA) are all vying to buy the Weather Channel from closely held Landmark Communication.

"Also, a handful of private equity firms, including Bain Capital, Providence Equity Partners and Madison Dearborn have reportedly indicated an interest, though they are unlikely to be serious bidders because of the tight credit markets," according to the paper.

Landmark reportedly is expecting to get $5 billion for the property though bidders tell the Times that $4 billion is a more realistic figure. I would venture that the company will get the higher figure because properties like this don't often come on the market.

Not only is the cable channel one of the most lucrative, its Web site is wildly popular as well. Unlike CNN, people don't just tune in when there is big news. Energy traders hang onto the channel's every word when they make bets on the hugely volatile commodities for oil, natural gas and electricity. People also rely on the company's forecasts to plan their lives. Moreover, The Weather Channel is in a good position to benefit from the public's growing interest in global warming.

Disney, CBS, GE, see blue skies ahead for The Weather Channel originally appeared on BloggingStocks on Thu, 06 Mar 2008 17:07:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>bain capitalBainCapitalcbscmcsadisgeinthenewslandmark communicationsLandmarkCommunicationsliberty mediaLibertyMedialintamadison dearboronMadisonDearboronnbcprovidence equityProvidenceEquityThe Weather ChannelTheWeatherChanneltwxweather.comThu, 06 Mar 2008 17:07:00 EST