Categories: OLD Media Moves

Bloomberg Media CEO Smith: The next to go?

New York Post media columnist Keith Kelly writes about the next potential departure from Bloomberg, which he reports could be Bloomberg Media CEO Justin Smith.

Kelly writes, “While Smith was able to cut losses at Businessweek by two-thirds — by some estimates the red ink is down to $20 million a year — the magic has not been replicated across all the consumer-facing media operations.

“Those operations, particularly TV, still lose tens of millions of dollars a year. Many of the initiatives that were favored as ‘investments’ in the past regime have been seen as money pits in the current regime.

“Thomas Secunda, Bloomberg vice chairman and the No. 2 largest individual shareholder in the privately held company, just behind Mayor Mike, is a strong advocate for concentrating on the core terminal business that the company built its fortune upon.

“Rumors as to where Smith might be headed if he resigns range from a return to Atlantic Media, to CNN or to another cable TV outlet.”

Read more here.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.