OLD Media Moves

The Bloomberg News success story

November 24, 2008

Brooke Gladstone of “On the Media” talked recently with Vanity Fair’s Seth Mnookin, who wrote in the latest issue abou the success of Bloomberg News.

Here is an excerpt:

BROOKE GLADSTONE: Here’s the money line from your story, I think, Seth. You wrote, “For the moment, at least, it looks as if we’re moving towards a world in which more people will get their information from Bloomberg News than from any other single source.â€? Really?

SETH MNOOKIN: Well, right now, Bloomberg News has more editorial employees than The New York Times and The Washington Post combined which, when I found out, astounded me because they are not dependent on models that clearly are not working, advertising based, subscription based models.

Just in the last several weeks we’ve seen a complete bloodbath at magazines and newspapers around the country. The largest newspaper in New Jersey almost closed, which is astounding, and Bloomberg News is not only not being killed but is still doing active expansion.

Read more here.

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