Categories: OLD Media Moves

Any biz desks considering dropping Bloomberg terminal and wire?

A business journalistÂ at one of the top 100 daily newspapers in the country e-mailed Talking Biz News on Monday and asked whether any other metro dailies have cut their Bloomberg News service in a cost-cutting mode.

This journalist, who asked to remain unnamed, said her paper is looking at ways to further cut costs, and this move is on the table.

The journalist wrote, “We’ve had Bloomberg terminals as long as I’ve worked at theÂ paper, and we rely on them heavily to track our dozens of small localÂ publicly traded companies as well as larger corporations both basedÂ here and with major operations here. We also publishÂ a [Bloomberg]Â index ofÂ stocks that have an impact on the local economy.”

The journalist later added, “The business reporters were asked if we had any ideas of how we couldÂ make up the gap and find the information if the Bloomberg terminalsÂ are taken away and the service is cancelled. This has not happenedÂ yet, but seems extremely likely.”

If you have made this move, please post a reply so this journalist can read it to see how you coped and found the Bloomberg terminal information elsewhere. Of if you considered this move, but did not drop the Bloomberg service, please post about how your paper arrived at that decision.

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John Nagy says:
January 19, 2009 at 10:54 pm
Chris, the News & Record in Greensboro got rid of its Bloomberg machine several years ago as an early cost-cutting move. Sure, it was a loss of a valuable resource, but we found other means (humint, Internet, blogs, etc). Yeh, we probably missed stories that Bloomberg could have yielded, but I can't think of a single big one that we smacked our foreheads and lamented missing because we didn't have a terminal.