NEW YORK (CBSNewYork/AP) – Former New York City Mayor Michael Bloomberg is taking some early steps toward launching a potential independent campaign for president.

That’s according to three people familiar with the billionaire media executive’s plans. They spoke on condition of anonymity because they weren’t authorized to speak publicly for Bloomberg.

They say Bloomberg would strongly consider running if the general election looked like it would be a contest between Democrat Bernie Sanders and Republicans Donald Trump or Ted Cruz.

“Right now, there’s so much uncertainty in both the Democratic and Republican parties that people are looking for someone, and Mike Bloomberg may be that someone,” NYU professor of policy and urban planning Mitchell Moss told CBS2’s Marcia Kramer earlier this month.

They say Bloomberg has set a March deadline to make a decision, and that he hasn’t ruled out a bid even if Hillary Clinton is ahead in the Democratic race at that time.

Bloomberg’s plans were first reported Saturday by The New York Times.

(TM and © Copyright 2016 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2016 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)