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    BREAKING: The ways people hear about big news these days; “into a million pieces,” says source
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    May 13, 2013, 1:05 p.m.
    What the Bloomberg scandal tells us about the media business
    LINK: www.washingtonpost.com  ➚   |   Posted by: Joshua Benton   |   May 13, 2013

    Neil Irwin at WaPo’s Wonkblog looks at what the Bloomberg snooping scandal/”scandal” says about the media business:

    You can’t think about Bloomberg News without understanding that this is the ecosystem in which it exists. The journalists there create some excellent work on topics that have nothing to do with financial markets — but their bread and butter, their raison d’etre is to be one more thing that makes the Bloomberg terminal something that financial professionals can’t afford not to have…

    Which brings us back to the events of the last few days. The practice of letting journalists access information about when subscribers had logged in and what broad categories of data they accessed pits the two imperatives of Bloomberg’s strategy against each other. On the one hand, it wants to do everything it can to ensure that its reporters are drumming up information that the competition isn’t. On the other, anything that discomfits the subscribers who are paying the bills could endanger the whole enterprise.

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