Bloomberg aiming to becoming most powerful media firm
October 2, 2009
Douglas McIntyre of 24/7 Wall St. writes that recent moves by Bloomberg News signify its growing position in the media world.
MacIntyre writes, “The new Post deal with Bloomberg will lead to the paper distributing stories on Bloomberg’s terminals and creating a joint online business section. The Post is losing huge amounts of money. Having a rich business partner with substantial news gathering ability could be critical to it keeping its financial pages among the most important in the US. It will also help the Post compete with the rival New York Times and Wall Street Journal in covering global business and economic stories.
“Bloomberg is quickly becoming one of the most important media companies in the nation. Its Bloomberg TV operation is beginning to challenge CNBC. It has broadened it programming with shows including the Charlie Rose interview show, underscoring Bloomberg’s aspirations to move beyond business news.
“Bloomberg now has more than 1,500 editors and writers around the world. That puts it makes it almost as large as the Associated Press. There is no reason Bloomberg cannot go head-to-head as a supplier of content to major newspapers, cable and TV companies, and Internet properties.
“Bloomberg’s advantage is that the company is privately held and has revenue of $4 billion from its trading terminal business. The firm is highly profitable according to most analysts. Bloomberg can afford expanding its news operations in a way that no other organization in the world can.”
OLD Media Moves
Bloomberg aiming to becoming most powerful media firm
October 2, 2009
Douglas McIntyre of 24/7 Wall St. writes that recent moves by Bloomberg News signify its growing position in the media world.
MacIntyre writes, “The new Post deal with Bloomberg will lead to the paper distributing stories on Bloomberg’s terminals and creating a joint online business section. The Post is losing huge amounts of money. Having a rich business partner with substantial news gathering ability could be critical to it keeping its financial pages among the most important in the US. It will also help the Post compete with the rival New York Times and Wall Street Journal in covering global business and economic stories.
“Bloomberg is quickly becoming one of the most important media companies in the nation. Its Bloomberg TV operation is beginning to challenge CNBC. It has broadened it programming with shows including the Charlie Rose interview show, underscoring Bloomberg’s aspirations to move beyond business news.
“Bloomberg now has more than 1,500 editors and writers around the world. That puts it makes it almost as large as the Associated Press. There is no reason Bloomberg cannot go head-to-head as a supplier of content to major newspapers, cable and TV companies, and Internet properties.
“Bloomberg’s advantage is that the company is privately held and has revenue of $4 billion from its trading terminal business. The firm is highly profitable according to most analysts. Bloomberg can afford expanding its news operations in a way that no other organization in the world can.”
Read more here.
Full-Time
CT Mirror seeks an environment and energy reporter
November 8, 2024
Media News
Harnessing the power of AI at Dow Jones
November 8, 2024
Media News
Houston energy reporter Drane moves to investigations team
November 8, 2024
Full-Time
Houston Chronicle seeks an energy transformation reporter
November 8, 2024
Highlighted News
Business Insider founder Blodget is leaving company
November 8, 2024
Subscribe to TBN
Receive updates about new stories in the industry daily or weekly.