Dylan Byers of Politico writes Friday about the restructuring at Bloomberg News announced earlier this week by new editor in chief John Micklethwait, concluding that it means Bloomberg Media CEO Justin Smith and editor Josh Tyrangiel are being reined in.
Byers writes, “The good news for Tyrangiel is that he has a seat at the table with Micklethwait; the bad news is that he no longer has total control over Bloomberg Media.
“Smith, meanwhile, will relinquish whatever editorial oversight he had over Bloomberg Media and return to focusing strictly on the business side of things, sources said. On Wednesday, the rumor circulating in Bloomberg headquarters was that Smith was headed for the exits. Several people who spoke with the On Media blog this week cautioned against putting too much stock in that rumor.
“Many of the enterprises that Smith and Tyrangiel created — Bloomberg Politics and Bloomberg Markets among them — will continue, sources there said. Others, like the Bloomberg TV program ‘With All Due Respect,’ hosted by Mark Halperin and John Heilemann, are at greater risk. (Michael Bloomberg is said to be less-than-enthusiastic about the program, which has had little impact since launching last fall and, at last count, had just 55,000 viewers or so.) Either way, they are no longer the central focus of the Bloomberg project. The former mayor’s chief concern is the Bloomberg Terminal — the data, news and analytics subscription service which is the principle source of the company’s revenue — and he has tasked Micklethwait with getting back to basics on the front.”
Read more here.
