Douglas McIntyre of 24/7 Wall St. writes that recent moves by Bloomberg News signify its growing position in the media world.
“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.”
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