Bloomberg considers buying Financial Times

New York City Mayor Michael Bloomberg is weighing whether to make a bid for The Financial Times Group, which includes the namesake paper and a half interest in The Economist magazine, the New York Times reported, citing three people close to the majority owner of Bloomberg LP.

Pearson Plc, the publisher of FT, is about to lose two of its top executives, raising speculation the paper could be up for sale.

Analysts value The Financial Times Group at about $1.2 billion, well within the reach of Bloomberg LP, which in 2011 had revenue of $7.6 billion, the paper said.