Former BusinessWeek staff writer Gary Weiss has problems with a statement by a Bloomberg executive in Monday’s New York Times that says that all breaking news will appear on the Bloomberg wire first, not in the weekly magazine it recently acquired.
“Indeed, one of the ‘ten commandments’ of the former BW editor Steve Shepard was that BW breaks news. This was essential, for it was believed that otherwise BW would not be worth reading.
“If a scoop runs in Bloomberg first, it is no different from any BW competitor getting to a story first.
“I have no idea if there are any exceptions to the no-scoop rule, such as major investigations by the BW staff. What I do know is that a weekly news magazine that doesn’t consistently break news is not going to be of much value to either readers or advertisers, no matter how many pages are run or how pretty it may be.”
Read more here.
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