Categories: OLD Media Moves

Bloomberg aiming to becoming most powerful media firm

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.

Recent Posts

Business Insider founder Blodget is leaving company

Business Insider founder Henry Blodget sent out the following on Friday: Team, Seventeen years ago,…

28 mins ago

Dow Jones reports slight increases in revenue, earnings

Dow Jones & Co., the parent of The Wall Street Journal, MarketWatch.com, Barron's and Investor's…

2 hours ago

The Independent hires Baragona as senior reporter

The Independent has hired Justin Baragona as a senior reporter. He will be covering the intersection of…

4 hours ago

Econ Reporting Hardship Program sets up Ledbetter Fund

Author and editor James Ledbetter was a beloved friend, Economic Hardship Reporting Project Board member…

5 hours ago

FT names Brower US news editor, Edgecliffe-Johnson departing

Financial Times editor in chief Roula Khalaf sent out the following on Friday: Hello everyone I'm pleased…

5 hours ago

WSJ’s Brown is leaving publication

Ken Brown of The Wall Street Journal is leaving the news organization. He is an…

1 day ago