Categories: OLD Media Moves

Bloomberg will run just fine without Bloomberg

Matthew Garrahan and Shannon Bond of The Financial Times writes about how Bloomberg LP would operate if founder Michael Bloomberg decided to run for president.

Garrahan and Bond write, “‘The business runs independently of him,’ said one person close to the situation. ‘There are a lot of strong senior people in management.’

“Bloomberg declined to comment.

“Mr Grauer sits on a three-person executive committee with Mr Bloomberg and Tom Secunda, vice-chairman.

“All of the company’s other senior managers report directly to this committee, including Justin Smith, the head of Bloomberg Media, John Micklethwait, the editor-in-chief of Bloomberg, and Jean-Paul Zammitt, who runs the company’s lucrative terminal business. The terminal side, which counts 327,000 global subscribers, generates more than 80 per cent of Bloomberg’s revenues.

“Mr Zammitt is considered one the most likely candidates to lead the company in Mr Bloomberg’s absence, according to several people familiar with the matter.”

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.