The success of MT Newswires — covering daily biz news

Joseph Di Stefano of The Philadelphia Inquirer looks at MT Newswires, a lesser-known competitor to Dow Jones Newswires and Bloomberg News.

Di Stefano writes, “Ted Merz, who as head of Bloomberg LP’s product group inked a deal with McFeely to carry MT Newswires on Bloomberg’s global network of securities-trading terminals, is a fan. ‘It is high-quality; it is accurate; it is fast, and in many cases, it covers corporate news that is not covered by other organizations,’ Merz said.

“MT doesn’t produce CEO and investor profiles, trading tips, sweeping columns by world influencers, or investigations.

“Instead, McFeely ‘has built a remarkable company that very much files under the radar screen’ by writing the day-to-day company and industry stories, which regional papers have mostly stopped covering, and the big global financial news services don’t headline, added Merz, who left Bloomberg in 2022 and started a ghostwriting firm, Principals Media.

“‘There’s no secret here: [McFeely] figured out, if you cover John Deere’s new factory or Honeywell’s layoffs, day in and day out, that critical information is a great business,’ Merz concluded. ‘He took advantage of a gap in the market and provides a quality service that others overlook.'”

Read more here.