OLD Media Moves

Deal rumors for Bloomberg

May 19, 2008

Keith Kelly of the New York Post writes Monday about where Bloomberg News editor and chief Matt Winkler and newly hired chief content officer Norm Pearlstine might clash when deciding the future direction of the operation.

Norm PearlstineKelly writes, “While last week the two pledged to work together, sources say Winkler’s star could soon be eclipsed. Areas where the two may knock heads include:

“* BloombergTV: Widely viewed as a loss leader at Bloomberg, this underutilized asset could be among the first areas where Pearlstine looks for growth. And that could put him at odds with Winkler.

“Some have felt that Winkler stymied the development of other media properties, like TV, because that did not tie in directly to the terminals.

“* Acquisitions: Except for a few small, strategic buys, Bloomberg’s growth has been mostly organic. That is likely to change. While a recent rumor that Bloomberg was looking to buy The New York Times was denied by both companies, there is no doubt, people familiar with the company say, that Pearlstine’s presence will lead to more purchase rumors – and some deals.

“Potential targets may include everything from internet powerhouses like Yahoo!, which can drive traffic to Bloomberg, to TV stations to ad heft to its existing anemic line-up.”

Read more here.

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