News Corp. rises on report of Bloomberg’s interest in Dow Jones, WaPo

News Corp. shares gained Friday on a report by Axios that Michael Bloomberg is interested in acquiring the company’s Dow Jones unit.

The stock climbed 2.8% to $18.31 at the close in New York. Axios, citing an unidentified person familiar with Bloomberg’s thinking, said Bloomberg hasn’t approached News Corp. controlling owner Rupert Murdoch or hired any advisers to evaluate such a move. Axios also said Bloomberg might be interested in buying the Washington Post.

Ty Trippet, a spokesman for Bloomberg, said in a tweet on Sunday that the firm hasn’t been discussing an acquisition with either organization, and isn’t interested in making one.

Dow Jones provides financial information and news through its wire service and through the Wall Street Journal, one of the biggest newspapers in the US. It competes with Bloomberg News, which is part of Bloomberg LP, where Michael Bloomberg is majority owner. 

News Corp. has been exploring whether to merge with Murdoch’s other media company, Fox Corp. Several News Corp. investors have balked at that idea, arguing that the company should consider ways to better reflect the value of its real estate business, which is separate from Dow Jones. – BLOOMBERG