Michael Bloomberg announced that he is going to make a run for President and he plans on spending millions of ad dollars in doing so.

Bloomberg is running as a Democrat and he is joining the race very late. But, he also plans on spending millions of dollars of his own money to buy ads online and on TV to get his name and message out there.

This means that stations that were already planning on raking in cash on next year’s election, might get even more.

Bloomberg’s personal fortune dwarfs that of Donald Trump’s and he has a lot of money to spend.

As for the Bloomberg news outlets, the rules have now changed when it comes to coverage of the election.

Bloomberg News says that it will not “investigate” him or any of his Democratic rivals, and Bloomberg Opinion will no longer run unsigned editorials.

Bloomberg Editor-in-Chief John Micklethwait announced the new rules in a note to his news organization’s 2,700 journalists and analysts Sunday, shortly after the former New York City mayor announced his candidacy.

“There is no point in trying to claim that covering this presidential campaign will be easy for a newsroom that has built up its reputation for independence in part by not writing about ourselves,” Micklethwait wrote.

H/T AP