Speculation about Bloomberg placing a bid for the New York Times has been rife for some time, but don’t believe the hype says Portfolio.

It quotes Bloomberg dismissing the speculation himself during a press conference yesterday in New York.

“I am not a newspaper person,” Portfolio reported him saying.

“I know nothing about the production of a newspaper. I know something about reading it. Sometimes I like it. Sometimes I don’t. I buy it everyday retail. But I am not going into the newspaper business.”