Bloomberg News
Parent Bloomberg L.P. | | |
Website | www | |
---|---|---|
Footnotes / references [1] |
| ||
---|---|---|
|
||
Bloomberg News (originally Bloomberg Business News) is an international news agency headquartered in New York City and a division of Bloomberg L.P. Content produced by Bloomberg News is disseminated through Bloomberg Terminals, Bloomberg Television, Bloomberg Radio, Bloomberg Businessweek, Bloomberg Markets, Bloomberg.com, and Bloomberg's mobile platforms. Since 2015, John Micklethwait has been editor-in-chief.[2]
History
Bloomberg News was founded by Michael Bloomberg and Matthew Winkler in 1990 to deliver financial news reporting to Bloomberg Terminal subscribers.[3]
The agency was established in 1990 with a team of six people.
Beginnings (1990–1995)
Bloomberg Business News was created to expand the services offered through the terminals. According to Matthew Winkler, then a writer for The Wall Street Journal, Michael Bloomberg telephoned him in November 1989 and asked, "What would it take to get into the news business?"[8]
In his book, The Bloomberg Way, Winkler recalls a conversation with Bloomberg about a hypothetical ethical dilemma which could have arisen from Bloomberg's interest in creating a newspaper:
"You have just published a story that says the chairman—and I mean chairman—of your biggest customer has taken $5 million from the corporate till. He is with his secretary at a Rio de Janeiro resort, and the secretary's spurned boyfriend calls to tip you off. You get an independent verification that the story is true. Then the phone rings. The customer's public-relations person says, 'Kill the story or we will return all the terminals we currently rent from you.'"
"What would you do?" Winkler asked.
"Go with the story," Bloomberg replied. "Our lawyers will love the fees you generate."[9][10]
Winkler recalls this as his "deciding moment", the time at which he became willing to help Bloomberg build his news organization.[9][10]
The publication was created to provide concise, timely financial news.[11] As a new company in 1990, Bloomberg hoped that the news service would spread the company name, sell more Bloomberg Terminals and end Bloomberg's reliance on the Dow Jones News Services.[3]
The creation of Bloomberg Business News required Winkler to open a Bloomberg office in
1995–2000
The initial goal of Bloomberg Business News to increase terminal sales was met by the mid-1990s and the company refocused the scope of its news service to rival the profitability of other media groups such as Reuters and Dow Jones. This led to the creation of Bloomberg's magazine, Bloomberg Personal, in 1995, which was carried in the Sunday edition of 18 U.S. papers.[12] In 1994, Bloomberg launched a 24-hour financial news service through Bloomberg Information Television, which was broadcast on DirecTV. Bloomberg also launched a web site to provide the audio feed of its radio broadcasts.[3] Bloomberg Business News was renamed Bloomberg News in 1997.[citation needed]
2000–2014
In 2009 Bloomberg News and The Washington Post launched a global news service known as The Washington Post News Service with Bloomberg News, to provide economic and political news.[13]
In April 2014, Bloomberg News launched the Bloomberg Luxury lifestyle section of its paper.[14] The section's content covers topics including travel, wine news, dining, auto news, gadgets, technology news, and more. It also highlights content from Bloomberg's quarterly lifestyle and luxury magazine, Pursuits.[citation needed]
Business in China
In 2012, Bloomberg News published investigative series titled "Revolution to Riches", which focused on China's political elite. The series won that year's
The following year, Bloomberg shut down an ongoing investigation into the financial ties between a wealthy Chinese businessman and top Chinese leaders' families. Another planned article "about the children of senior Chinese officials employed by foreign banks" was also killed, according to Bloomberg employees.[20] At least five journalists and editors, including the lead writer on the Xi story,[18] left the company after news reports about the decision appeared.[21] One of the journalists said Bloomberg had disparaged "the team that worked so hard to execute an incredibly demanding story" and claimed it threatened the journalists who worked on the story with legal action if they discussed the incident publicly.[22][23]
Bloomberg's top editors, including the senior editor on the stories, Laurie Hays, and editor-in-chief Matthew Winkler denied that the stories were killed.[20] However, this was contradicted by several anonymous Bloomberg employees. According to one employee, Winkler had said, "If we run the story, we'll be kicked out of China."[20][22] Michael Bloomberg, founder of the company, also denied the accusation, but noted that he had recused himself from the company's operations as he was serving as mayor of New York.[24]
After the incidents, Bloomberg set about trying to repair its relationship with the Chinese government. By 2015, Bloomberg's reporters began receiving visas again.[21] Bloomberg Chairman Peter Grauer told the staff at the Bloomberg Hong Kong bureau that the company's sales team had done a "heroic job" of mending relations with Chinese officials who had indicated their displeasure about the publication of the Xi revelations. He also warned that if Bloomberg "were to do anything like" the Xi story again, the company would "be straight back in the shit-box."[18]
Bloomberg was widely criticized for how it handled the controversy. Howard French, a professor of journalism, wrote that Bloomberg had "tainted its corporate identity and journalism brand to a degree that could last for years."[18]
2015 refocus
In 2015, an internal memo written by editor-in-chief John Micklethwait was leaked to the public. This memo indicated an intent to refocus the agency to better target its core audience, "the clever customer who is short of time", and better achieve the goal of being "the definitive 'chronicle of capitalism.'"[2] This change led to a reduction in reporting on general interest topics in favor of content related to business and economics.[2]
2018 redesign and paywall
In 2018, Micklethwait announced a new digital design for Bloomberg News. Bloomberg uses a metered paywall to charge visitors for content, limiting users to view 10 free articles per month with unlimited re-read option, and 30 minutes of Bloomberg Television watch per day with reset at local midnight time.[25][26]
In 2018, Bloomberg Businessweek, a subsidiary of Bloomberg News, published an article alleging that the Chinese government had hacked several American companies, including Apple Inc. and Amazon, by placing secret integrated circuits into their computers. Apple and Amazon strongly denied the report. The incident became a long-running dispute between Bloomberg; the U.S. Department of Homeland Security and the U.K. National Cyber Security Centre both issues statements supporting the companies' denials of the story.[27] In 2021, Bloomberg published a follow-up article standing by its allegations.[28][29]
In 2016, Bloomberg published a news release claiming to be from
Michael Bloomberg presidential campaign
In November 2019, as Michael Bloomberg announced his presidential campaign, editor-in-chief John Micklethwait ordered his staff not to investigate their boss, nor any other Democratic candidates, while investigations into Donald Trump would continue, "as the government of the day".[32] Subsequent reporting said Micklethwait was referring to a team of specialized investigative reporters, as opposed to the overall political team, but he would not elaborate or issue a public clarification despite newsroom staff wishing for him to do so. Investigative journalists and political reporters operate separately but reporting indicates this distinction would not be clear to the general public.[33]
Following Bloomberg's announcement, the Houston Chronicle dropped Bloomberg as a source for the 2020 Presidential campaign, saying that "journalists should not choose targets based on their political affiliation."[34] Former Bloomberg News DC Bureau Chief Megan Murphy also criticized the decision, saying it bars "talented reporters and editors from covering massive, crucial aspects of one of the defining elections of our time" and calling the decision to avoid coverage "not journalism".[35] Responding to the controversy, Michael Bloomberg told CBS News: "We just have to learn to live with some things." He added that his reporters "get a paycheck. But with your paycheck comes some restrictions and responsibilities."[36]
Bloomberg suspended his campaign on March 4, 2020, the day after Super Tuesday.
2024 Russian prisoner exchange
While the
Bloomberg Businessweek
Bloomberg Television
Bloomberg Television is a 24-hour financial news television network. It was introduced in 1994 as a subscription service transmitted on satellite television provider DirecTV, 13 hours a day, 7 days a week.[41] In 1995, the network entered the cable television market and by 2000, Bloomberg's 24-hour news programming was being aired to 200 million households.[42] Justin Smith serves as CEO of the Bloomberg Media Group which includes Bloomberg Radio, Bloomberg Television and mobile, online and advertising-supported components of Bloomberg's media offerings.[43]
Bloomberg Markets
Originally launched in July 1992 under the title Bloomberg: A Magazine for Bloomberg Users, Bloomberg Markets was a monthly magazine given to all Bloomberg Professional Service subscribers.[44] In addition to providing international financial news to industry professionals, the magazine included points for navigating terminal functionality. In 2010, the magazine was redesigned in an effort to update its readership beyond terminal users.[45] Ron Henkoff has served as editor of Bloomberg Markets since 1999[46] and Michael Dukmejian has served as the magazine's publisher since 2009.[47]
Bloomberg Opinion
Bloomberg Opinion, formerly Bloomberg View, is an editorial division of Bloomberg News which launched in May 2011, and provides content from columnists, authors and editors about current news issues.[48] Timothy L. O'Brien, a former New York Times reporter and editor, is senior executive editor of the division.[49]
Bloomberg Editor-in-Chief John Micklethwait admitted in an email to staffers that Michael Bloomberg controls the editorial output of the Opinion section, stating "our editorials have reflected his views".[50] In 2017, Michael Bloomberg threatened to close Bloomberg View, part of the Bloomberg Opinion, after John Paulson, a billionaire hedge fund manager gave him a call. Paulson was upset about a column that suggested his record-breaking donation to Harvard should have gone to "literally any other charity." Bloomberg changed his mind over the weekend, but the columnist was given a talking to, according to people familiar with the incident.[50]
Bloomberg Politics
Bloomberg Politics provides political coverage via digital, print and broadcast media.
In 2016, Bloomberg Politics produced a documentary on the 2016 US presidential election called The Circus: Inside the Greatest Political Show on Earth.[56]
As of 2024, Bloomberg Politics covers political events in the Americas, United Kingdom, Americas, Europe, Asia, and the Middle East.[57] Bloomberg's section on U.S. politics primarily covers national news and American foreign policy.[58]
See also
References
- ISBN 9781593921156. Archivedfrom the original on August 30, 2023. Retrieved September 21, 2020.
- ^ ISSN 1059-1028. Retrieved February 16, 2019.
- ^ ISBN 9780595309214. Archivedfrom the original on August 30, 2023. Retrieved March 15, 2013.
- ^ "Bloomberg Solutions". Bloomberg News. Archived from the original on June 24, 2010. Retrieved May 14, 2013.
- ^ "Cult of Bloomberg way underpinned by accuracy". The Australian. Archived from the original on March 23, 2014. Retrieved October 26, 2011.
- ^ "At A Glance". Bloomberg Press Room. Archived from the original on July 7, 2012. Retrieved March 18, 2013.
- ^ "Bloomberg News editor-in-chief speaks about the economy and the presidential election". UNC School of Journalism and Mass Communication. Archived from the original on February 24, 2013. Retrieved March 18, 2013.
- ^ Radcliffe, Damian (January 8, 2020). "In conversation with Matthew Winkler, Editor-in-Chief Emeritus and co-founder of Bloomberg News". Medium. Archived from the original on February 21, 2020. Retrieved February 21, 2020.
- ^ ISBN 978-1-118-84226-3.
- ^ ISBN 978-1-118-84233-1. Archivedfrom the original on August 30, 2023. Retrieved February 21, 2020.
- ISBN 0-471-15545-4.
- )
- from the original on February 21, 2020. Retrieved February 21, 2020.
- ^ "Bloomberg to Build Luxury Online". Women's Wear Daily. April 23, 2014.
- ^ "George Polk Awards". Long Island University. February 18, 2013. Archived from the original on April 8, 2014. Retrieved January 26, 2018.
- ^ "Revolution to Riches". Bloomberg News. Archived from the original on December 31, 2012. Retrieved July 13, 2014.
- ^ "Xi Jinping Millionaire Relations Reveal Fortunes of Elite". Bloomberg News. June 29, 2012. Archived from the original on July 4, 2012. Retrieved November 9, 2014.
- ^ a b c d e f Howard W. French (May 1, 2014). "Bloomberg's Folly". Columbia Journalism Review. Retrieved December 7, 2014.
- from the original on September 4, 2017. Retrieved February 16, 2019.
- ^ from the original on April 16, 2017. Retrieved February 16, 2019.
- ^ from the original on July 25, 2023. Retrieved July 25, 2023.
- ^ a b Folkenflik, David (April 14, 2020). "Bloomberg News Killed Investigation, Fired Reporter, Then Sought To Silence His Wife". NPR. Archived from the original on April 14, 2020. Retrieved April 15, 2020.
- ^ Jim Romenesko (March 24, 2014). "Ben Richardson Quits Bloomberg News Over Handling of Investigative Piece". JimRomenesko.com. Archived from the original on June 2, 2014. Retrieved June 1, 2014.
- from the original on May 21, 2017. Retrieved February 16, 2019.
- from the original on May 3, 2018. Retrieved February 16, 2019.
- ^ "Bloomberg subscriptions". Bloomberg.com. Bloomberg. Archived from the original on February 28, 2022. Retrieved May 20, 2020.
- ^ Cimpanu, Catalin (October 7, 2018). "DHS and GCHQ join Amazon and Apple in denying Bloomberg chip hack story". ZDNET. Archived from the original on July 27, 2023. Retrieved July 27, 2023.
- ^ Robertson, Jordan; Riley, Michael (February 12, 2021). "The Long Hack: How China Exploited a U.S. Tech Supplier". Bloomberg.com. Archived from the original on July 21, 2023. Retrieved July 27, 2023.
- ^ Moss, Sebastian (February 12, 2021). "Years later, Bloomberg doubles down on disputed Supermicro supply chain hack story". Data Center Dynamics. Archived from the original on July 27, 2023. Retrieved July 27, 2023.
- ^ Pooler, Michael (December 16, 2019). "Bloomberg fined €5m over report of fake news release". Financial Times. Archived from the original on July 27, 2023. Retrieved July 27, 2023.
- ^ "French court lowers Bloomberg fine over hoax Vinci statement -media reports". Reuters. September 16, 2021. Archived from the original on July 27, 2023. Retrieved July 27, 2023.
- ^ Hirsch, Lauren; Schwartz, Brian (November 24, 2019). "Bloomberg News will not investigate Mike Bloomberg or his Democratic rivals during primary". CNBC. Archived from the original on November 26, 2019. Retrieved November 26, 2019.
- from the original on February 27, 2020. Retrieved February 27, 2020.
- ^ Wise, Justin (December 12, 2019). "Houston Chronicle stops using Bloomberg News wire stories for campaign coverage". The Hill. Archived from the original on December 16, 2019. Retrieved December 16, 2019.
- ^ Murphy, Megan (November 24, 2019). "It is truly staggering that *any* editor would put their name on a memo that bars an army of unbelievably talented reporters and editors from covering massive, crucial aspects of one of the defining elections of our time. Staggering". Archived from the original on December 11, 2019. Retrieved December 16, 2019.
- ^ "Bloomberg: His news reporters need to accept restrictions". ABC News. Archived from the original on December 16, 2019. Retrieved December 16, 2019.
- ^ Klein, Charlotte (August 2, 2024). "Everybody Is Mad at Bloomberg for Its Embargo-Breaking Gershkovich Scoop". Intelligencer. Retrieved August 2, 2024.
- Stephanie Clifford; David Carr (October 13, 2009). "Bloomberg Buys BusinessWeek From McGraw-Hill". The New York Times. Archivedfrom the original on December 4, 2019. Retrieved March 18, 2013.
- ^ Tom Lowry (October 13, 2009). "Bloomberg Wins Bidding For BusinessWeek". Bloomberg Businessweek. Retrieved March 18, 2013.
- ^ "Bloomberg Businessweek". Businessweek.com. Archived from the original on January 28, 2015.
- ^ "Bloomberg L.P. History". FundingUniverse. Archived from the original on July 7, 2012. Retrieved March 19, 2013.
- ^ Danny Hakim (September 18, 2000). "Bloomberg Unit To Announce A Cable Deal". The New York Times. Archived from the original on June 24, 2017. Retrieved March 19, 2013.
- ^ "Bloomberg: a cloud built for world domination". DatacenterDynamics. Archived from the original on November 14, 2012. Retrieved March 19, 2013.
- ^ Ian Hall (January 17, 2003). "MEDIA: Bloomberg's mag to be launched in the UK high street". BrandRepublic. Archived from the original on April 28, 2014. Retrieved March 19, 2013.
- AdWeek. Retrieved March 19, 2013.
- ^ "MEDIA: Ronald Henkoff". Bloomberg Link. Archived from the original on December 1, 2012. Retrieved March 19, 2013.
- ^ Angela Martin (June 24, 2009). "Michael Dukmejian Joins BLOOMBERG MARKETS Magazine As Publisher" (Press release). Reuters. Archived from the original on November 14, 2012. Retrieved March 19, 2013.
- ^ "Bloomberg View reveals columnists, editorial board". Politico. Archived from the original on May 2, 2011. Retrieved March 20, 2013.
- Talking Biz News. Archivedfrom the original on January 12, 2023. Retrieved January 11, 2023.
- ^ a b Dreier, Hannah (February 27, 2020). "When the Billionaire Family Behind the Opioid Crisis Needed PR Help, They Turned to Mike Bloomberg". ProPublica. Archived from the original on August 12, 2023. Retrieved August 12, 2023.
- ^ "Bloomberg Announces First New Digital-Led, Multi-Platform Brand: Bloomberg Politics" (Press release). Bloomberg News. May 4, 2014. Archived from the original on May 6, 2014. Retrieved September 23, 2014.
- ^ Joe Pompeo (August 4, 2014). "Mike Nizza named executive editor of Bloomberg's politics site". Capital New York. Archived from the original on September 9, 2014. Retrieved September 23, 2014.
- ^ Hadas Gold (October 5, 2014). "Bloomberg Politics kicks off". Politico. Archived from the original on October 22, 2014. Retrieved October 16, 2014.
- ^ Kelsey Sutton; Hadas Gold; Joe Pompeo. "Bloomberg to end 'With All Due Respect' as company reorganizes Bloomberg Politics". Politico. Archived from the original on June 23, 2019. Retrieved March 1, 2017.
- from the original on December 17, 2016. Retrieved February 16, 2019.
- ^ Brian Stelter (December 15, 2015). "Showtime creating weekly documentary series about 2016 election 'circus'". CNN Money. Archived from the original on June 23, 2019. Retrieved January 26, 2018.
- ^ "Bloomberg Politics". www.bloomberg.com. Retrieved June 7, 2024.
- ^ "Bloomberg". www.bloomberg.com. Retrieved June 7, 2024.
External links
- Bloomberg News – official website (Subscription needed to read articles)
- Bloomberg.com – official Bloomberg L.P. website
- Bloomberg Politics – official politics website (Subscription needed to read articles)
- Hoover's Bloomberg L.P. Company profile