BALTIMORE (BBN) – (Updated on June 14, 2018 to add interview with New York Times President and CEO Mark Thompson on Bloomberg bid) — Bloomberg LP founder and owner Michael Bloomberg said that he has not amassed a USD 5bn to USD 10bn political war chest for a 2020 run for President from an undisclosed securization of Bloomberg terminals.
[Former NYC Mayor and Bloomberg LP owner Michael Bloomberg speaks to Capitol Intelligence/BBN using CI Glass on Trump administration Antitrust action and USD 5bn Bloomberg terminal securitization at The Atlantic City Lab Baltimore event in Baltimore. August 2, 2017]
Speaking to Capitol Intelligence/BBN at a City Lab event with Baltimore Mayor Catherine Pugh, Bloomberg denied he raised between USD 5bn to USD 10bn though the securitization of Bloomberg terminals more than a decade ago.
Sources close to Bloomberg told Capitol Intelligence that Michael Bloomberg held numerous meetings with Purchase, New York-based MBIA (NYSE:MBI) and Ambac Financial Group, Inc for the terminal securitization.
One potential use of Bloomberg’s USD 5bn-10bn war chest for his 2020 run for President could include the takeover the New York Times (NYSE:NYT) from the Sulzerberger family that controls the newspaper along with New York City hedge fund, Och Ziff, sources close to the matter said.
“New York Times is both a trophy award purchase for Mike but also a means to lock the democratic party on his side,” a Bloomberg confidante said. ”
New York Times [NYSE: NYT] President and CEO Mark Thompson in an exclusive interview with Capitol Intelligence categorically denied that the Sulzerberg family has any intention to sell the family-controlled newspaper.
[New York Times President and CEO Mark Thompson speaks to Capitol Intelligence/BBN using CI Glass on possible takeover bid by Bloomberg owner Michael Bloomberg and Carlos Slim at Open Markets Institute forum in Washington DC. June 12, 2018]
News that George Soros, the hedge fund fund titan and financial back of Black Lives Matter movement, acquired a USD 3m stake in the New York Times hit the newswire almost at the same time of Mark Thompson interview with Capitol Intelligence.
The Sulzerberg family, especially New York Times publisher A.G. Sulzerberger, are widely considered ineffectual managers of the newspaper as was the Washington Post’s Graham family and the Wall Street’s Bankcroft family prior to their respective sale to Amazon, Inc [NASDAQ: AMZN] owner Jeff Bezos and News Corp [NASDAQ: NWS] owner Rupert Murdoch.
In fact, only the timely and USD 250m investment by Telmex owner Carlos Slim saved the New York Times in 2009 at the height of the financial crisis and generating a significant profit for the Mexican-Lebanese billionaire.
[21st Century Fox and News Corp (NASDAQ: NWS) Executive Chairman Rupert Murdoch speaks to Capitol Intelligence/Black Business News (BBN) using CI Glass on AT&T (NYSE:T) for Time Warner (NYSE:TWX) at The Wall Street Journal CEO Council Summit in Washington, DC. November 15, 2016]
Another reason that the Sulzerberger’s may be willing to sell the NYT to Bloomberg is that the family’s man financial backer, Och Ziff, has been ensnared in high profile corruption scandals in Africa and the Shinnecock Indian Nation in South Hampton, Long Island.
On September 29, 2016, Och Ziff paid a USD 412m to the US Department of Justice and US Securities & Exchange Commission to settle a Foreign Corrupt Practices Act (FCPA) for using Libyan and Tunisian agents to bribe African political leaders during the time of Libyan dictator Colonel Gaddafi.
[US Government: In January and October 2008, Och-Ziff transferred a total of $3.75 million to Libyan Agent’s shell company. Libyan Agent then directed the transfer of approximately $2.5 million from those funds to an account held by Tunisian Agent for the benefit of the two senior [Libya Investment Authority] officials, including the son of Colonel Gaddafi. During this period, Libyan Agent also directed payments of more than $1 million through his network of offshore companies to benefit his longstanding patron in Libya’s state security services.]
Och-Ziff also stands accused of corruption and violating US Federal law in the interference in internal Indian Nation tribal council matters in relation to the gaming licenses of the federally recognized Shinnecock Indian Nation located in South Hampton, Long Island.
[Shinnecock Indian Nation Tribal Ambassador and National Congress of American Indians Vice President Northeast Region Lance A. Gumbs speaks to Capitol Intelligence/BBN using CI Glass on partnership with New Delhi Amity University over former St. John’s University’s Oakdale campus in Long, Island. Washington, DC. February 15, 2018]
In 2012, Och-Ziff Real Estate approached than Shinnecock Tribal Trustee Lance A. Gumbs to develop new gaming activities in Long Island near New York city in violation of the Shinnecock Indian National long standing gaming contract with Gateway Casino Resorts of Detriot’s Michael Malik.
The illicit contact with Chief Gumbs forced the removal of Gumbs and four others from the Shinnecock tribal contract and the cancellation of Gateway contract
Gateway told the Newsday newspaper that it had paid some USD 60m to the Shinnecocks over the years with the purpose to develop a casino that would generate up to USD 1bn in annual revenues. The Shinnecock nation, as a United States federally recognized tribe, can acquire land under trust anywhere with 75 miles of the Shinnecock reservation.
Michael Bloomberg’s acquisition of the New York Times (NYSE:NYT) would give him a powerful tool to win over or intimidate democratic party members and the Democratic National Committee (DNC) in his barely concealed plan to run as the Democratic nominee against Donald J. Trump in 2020.
Bloomberg is already bankrolling thought his non-for-profit Bloomberg Philanthropies a series of ad hoc events organized by Washington, DC The Atlantic media group in key democratic strongholds such Baltimore, Detroit, Chicago, New Orleans and Los Angeles.
While Bloomberg uses his billions to run as the democratic nominee, the Trump administration may attempt to use antitrust action against Bloomberg as a means to slow down his presidential ambitions.
One potential target of new antitrust initiatives by the Trump’s administration’s Department of Justice or the US FTC by the Trump administration could be USD 34bn Bloomberg LP financial news and data empire of founder and owner Michael Bloomberg.
[Assistant Attorney General for Antitrust for the US Department of Justice, Makan Delrahim, filmed by Capitol Intelligence/BBN using CI Glass discussing AT&T merger with Time Warner, Bayer-Monsanto at Open Markets in Washington, DC. June 12, 2018]
Antitrust experts argue the Bloomberg’s could be viewed having monopoly of access to algorithmic trading platforms, regulatory news and information following the acquisition of Bureau of National Affairs, and the closed-circuit nature of its terminal chat and email systems.
Speaking to Capitol Intelligence, Bloomberg said he sees no reason for either the US Justice Department nor the US Federal Trade Commission to investigate Bloomberg LP for antitrust violations.
By PK Semler in Baltimore, Maryland and Washington. DC. For information please call +1-202-549-3399 or email pks@capitolintelgroup.com
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