Bloomberg News to shuffle top management

Bloomberg LP is expected to announce significant management changes in its news division that will result in a smaller number of editors reporting directly to Bloomberg News Editor in Chief Matt Winkler, according to a report from The Wall Street Journal’s William Launder and Jenny Strasburg.

Launder and Strasburg write, “As part of the shuffle, Executive Editor Laurie Hays will assume oversight of a larger group of reporters and editors, expanding her role to coverage of areas such as economics and Washington. Ms. Hays currently oversees coverage of corporations, executives, mergers and acquisitions and other topics, according to Bloomberg’s website.

Daniel Hertzberg, Bloomberg’s executive editor for finance, is retiring, to be succeeded by Otis Bilodeau, currently managing editor for Bloomberg News’ finance group, the people say. Several other major editorial changes are expected as well.

“The reorganization comes as Bloomberg attempts to streamline the management lines of a news operation that has expanded to 2,400 journalists in recent years, reflecting broader growth at the company. Bloomberg has increased its total staff by around 37% since 2007, and it now has around 15,000 employees globally, Bloomberg Chief Executive Dan Doctoroff told The Wall Street Journal in May.

“While Bloomberg’s business is centered on selling subscriptions to its financial terminals to Wall Street banks and other financial clients, the company has over the years expanded its news operations to include a newswire, BusinessWeek magazine and radio and television programming.”

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