"In October , the company [New York Times Inc.] reported a loss of $9 million compared to a profit of $12.9 million in the third quarter of 2013". - Gabriel Sherman, "People Are Talking About Michael Bloomberg Buying the New York Times, Including Michael Bloomberg," in New York Magazine, January 23, 2025. Here is that article.
As an institution, The New York Times is iconic. But so was Newsweek, which has faded in influence. In addition, The New York Times is part of a public company, responsible to shareholders. Its prospects for growing shareholder value are not too hot. Investor Carlos Slim, notes Sherman, told Reuters that he frames his investment in the company as a "financial investment."
Therefore, although the Sulzberger family has tight control of the company, there could be enough financial distress and push from the Slim type shareholder to consider a takeover bid from Michael Bloomberg. He has the entrepreneurial spirit and know-how to transform this late-to-digital institution to a media property which can take on Business Insider, TechCrunch and even Abovethelaw.com.
Gone are the days when the wealthy and the poor but influential movers and shakers spent Sunday with The New York Times. Instead, they know other media sites are more of a priority for their work - and soul. Bloomberg could restore the newspaper to a first-read. His law vertical, for example, often presents breaking news ahead of the competition. For my syndicated legal blog, I click on that several times a day and the last thing before I put the blog to bed.
We who rely on the media welcome a move, friendly or hostile, from Bloomberg.