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Key links:
Primary website:
bloomberg.com
Primary Twitter:
@BloombergNews

Editor’s Note: Encyclo has not been regularly updated since August 2014, so information posted here is likely to be out of date and may be no longer accurate. It’s best used as a snapshot of the media landscape at that point in time.

Bloomberg is a financial news and data company founded in 1981 and primarily owned by billionaire and New York City mayor Michael Bloomberg.

The vast majority of Bloomberg’s $8.3 billion in 2013 revenue — 82 percent, as of 2012 — are tied to its $20,000-per-year financial data terminals used by 318,000 subscribers as of 2014, but the company’s news division also has 2,400 editorial employees, more than The New York Times or The Wall Street Journal. The company laid off just under 40 employees, especially in its culture and sports departments, in late 2013. It also consolidated its employees more heavily in its New York offices in 2014, after a decade-long emphasis on political coverage based in Washington.

Bloomberg News provides business and financial news through a wire service and Bloomberg Markets magazine, and as of 2014, that division had 2,400 newsroom employees. In January 2010, Bloomberg began a partnership with the Washington Post News Service.

Bloomberg released a free iPad app modeled after its terminals. The company has considered charging as much as $1,000 per year to some of the content on its website.

After complaints by clients, Bloomberg News acknowledged in 2013 its journalists had long used its terminals to gather information on its users for reporting. The terminal use was part of a company-wide focus on data-gathering and internal “transparency” along with external secrecy.

Bloomberg’s social media guidelines, leaked in April 2011, encourage journalists to use Twitter but restrict the ways in which they can do so.

In 2013, Bloomberg Media Group hired as its CEO Justin B. Smith, who had engineered The Atlantic’s digital resurgence. The next year, Smith hired high-profile political journalists John Heilemann and Mark Halperin to head up a new politically focused site called Bloomberg Politics.

In January 2011, Bloomberg launched Bloomberg Government, or BGov, a website that covers business and politics for subscription fees of thousands of dollars a year. Four months later, it launched an online opinion section called Bloomberg View. In 2012, View had a staff of about 20 and 1.6 million monthly unique visitors. Bloomberg also re-launched its free politics page in 2012.

Bloomberg launched a venture capital fund called Bloomberg Beta in 2013 to invest in startups, including some that Bloomberg News covers.

In 2009 Bloomberg bought the weekly magazine BusinessWeek for $5 million from McGraw-Hill.

Recent Nieman Lab coverage:
June 24, 2020 / Ken Doctor
Newsonomics: Bloomberg’s Justin Smith is investing in news when everyone else is cutting — “Bloomberg” is a Rorschach test of a word. For many, it represents the unique New York City politician whose presidential flirtations reshuffled our politics for a time. For some, it’s his immense wealt...
June 18, 2020 / Sarah Scire
CityLab has been relaunched under the Bloomberg umbrella — When Bloomberg acquired CityLab — which reports from the intersection of public policy, urban studies, and city living — from Atlantic Media at the end of last year, the company said CityLab would continue as a stand...
April 14, 2020 / Joshua Benton
The Bloomberg Way appears to have gone astray when it killed an investigation into China’s richest man — In the introduction to the 2014 edition of The Bloomberg Way — the combination style guide, reporting bible, and (to its detractors) cult manual for the news operations of Bloomberg — then–editor-in-chief Matthew W...
Nov. 13, 2018 / Joshua Benton
So some people will pay for a subscription to a news site. How about two? Three? — The path forward for premium media is seemingly clear: Put up a paywall. Digital advertising is a duopoly-dominated mess; any print or broadcast cross-subsidy you might have is declining at one speed or another. Your loy...
May 3, 2018 / Laura Hazard Owen
Pricey paywalls: Bloomberg.com will now be $35/month — If you like Bloomberg.com, do you $35-a-month like it? That’s what the company is hoping: On Wednesday it rolled out a metered paywall starting at $35 a month, with 10 free articles a month. The Wall Street Journal...

Recently around the web, from Mediagazer:

Primary author: Mark Coddington. Main text last updated: August 14, 2014.
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