Michael Bloomberg Comments On Rumors Of New York Times Purchase

Michael Bloomberg has publicly commented on speculation that he may be interested in purchasing the New York Times Co (NYSE: NYT).

When asked Tuesday about his interest in the Times by a Capital reporter, Mr. Bloomberg said, "It's not for sale, as far as I know...but you'd know better."

Bloomberg's response did little to quell rumors that he may still be interested in rescuing the company and bringing an end to its financial uncertainty.

The former mayor of New York City is said to have suggested the idea of purchasing the newspaper to its publisher, Arthur Sulzberger Jr., near the end of his third term in office at the end of 2013.

The New York Times Co has a market capitalization just over $2 billion and, even at a premium purchase price, is affordable for Bloomberg who is estimated to be worth $35 billion.

New York Times Co recently traded at $13.89, up more than 1 percent.