Bloomberg zigs while others zag

Rem Rieder, the editor of American Journalism Review, writes Wednesday about how Bloomberg News has been on a hiring spree when other media have been downsizing.

Rieder writes, “In an era of dramatic, not say crushing, retrenchment by so much of the news business, Bloomberg has been mushrooming. It has added so many well-known journalists to its roister that it sometimes seems like a Full Employment Act for Journalists of a Certain Age.

“In AJR’s Spring issue, Jodi Enda chronicled the alarming decline in the number of reporters covering Washington’s critically important federal agencies and departments. Among the rare bright spots: Bloomberg.  While other D.C. bureaus were shrinking or disappearing, Bloomberg’s was growing.

“At the time it featured 140 staffers, twice the number it had a decade ago.

“And in October, the company announced plans to launch Bloomberg Government, a new initiative focusing on nitty-gritty Washington coverage. By the end of next year, it hopes to have 150 journalists and analysts on its staff, according to the New York Times.

“Similarly, as other news organizations have shuttered foreign bureaus, Bloomberg has opened new ones.”

Read more here.