''Bloomberg Markets'' is a magazine published six times a year by
Bloomberg L.P.
Bloomberg L.P. is a privately held financial, software, data, and media company headquartered in Midtown Manhattan, New York City. It was co-founded by Michael Bloomberg in 1981, with Thomas Secunda, Duncan MacMillan (Bloomberg), Duncan MacMi ...
as part of
Bloomberg News
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 Televi ...
. Aimed at global financial professionals, ''Bloomberg Markets'' publishes articles on the people and issues related to global financial markets. ''Bloomberg Markets'', which is based in
New York City
New York, often called New York City or NYC, is the List of United States cities by population, most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the L ...
, has readers in 147 countries. More than half of its readers live outside the U.S.
As of December 2011, the magazine had a circulation of 375,000 and was available for sale at bookstores and selected newsstands. All subscribers of the Bloomberg Professional service and the
Bloomberg Terminal
The Bloomberg Terminal is a computer software system provided by the financial data vendor Bloomberg L.P. that enables professionals in the financial service sector and other industries to access Bloomberg Professional Services through which use ...
also receive ''Bloomberg Markets'' as part of their subscription.
Newsstand sales averaged 6,154 in 2010.
History
''Bloomberg Markets'' was launched in July 1992
as ''"Bloomberg: A Magazine for Bloomberg Users"'' and was originally intended to be a guide for the Bloomberg Professional service.
Although every issue included instructions for navigating terminal functions, content also included articles about financial markets aimed at portfolio managers, corporate executives, brokers, bankers and securities traders. William Inman served as ''Bloomberg Markets'' founding editor.
In 1999, the magazine became part of
Bloomberg News
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 Televi ...
and Ronald Henkoff became editor. Prior to joining ''Bloomberg Markets'', Henkoff worked as a reporter and editor at ''
Newsweek
''Newsweek'' is an American weekly online news magazine co-owned 50 percent each by Dev Pragad, its president and CEO, and Johnathan Davis (businessman), Johnathan Davis, who has no operational role at ''Newsweek''. Founded as a weekly print m ...
'' and ''
Fortune
Fortune may refer to:
General
* Fortuna or Fortune, the Roman goddess of luck
* Luck
* Wealth
* Fortune, a prediction made in fortune-telling
* Fortune, in a fortune cookie
Arts and entertainment Film and television
* ''The Fortune'' (1931 film) ...
''. Henkoff was tapped by Bloomberg News chief
Matt Winkler to bolster the magazine's feature writing, which had not been a focus of the publication. In 2000, the magazine's name was changed to ''Bloomberg Markets'' and became available on newsstands.
In fall 2010, ''Bloomberg Markets'' was redesigned in an effort to attract a broader array of advertisers and expand its content.
The redesign, led by ''Bloomberg Markets'' editor Ronald Henkoff and publisher
Michael Dukmejian and developed by the firm of Priest + Grace, gave the publication a new, more contemporary look. In April 2011, ''Bloomberg Markets'' hired its first creative director, Siung Tjia, the former creative director of
ESPN The Magazine
''ESPN The Magazine'' was an American monthly sports magazine published by the ESPN sports network in Bristol, Connecticut. The first issue was published on March 11, 1998. Initially published every other week, it scaled back to 24 issues a year i ...
.
In addition to design changes, the editors added regular coverage of careers and personal finance following a global survey of readers.
In addition to the redesign, ''Bloomberg Markets'' unveiled a trade advertising campaign to position itself as the leading publication for the "global financial elite" and increased its circulation rate base from 355,000 to 375,000 by December 2011.
The campaign and shift in design lead to new advertising deals with luxury brands such as
Range Rover
Range may refer to:
Geography
* Range (geographic), a chain of hills or mountains; a somewhat linear, complex mountainous or hilly area (cordillera, sierra)
** Mountain range, a group of mountains bordered by lowlands
* Range, a term used to i ...
,
Goldman Sachs
Goldman Sachs () is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered at 200 West Street in Lower Manhattan, with regional headquarters in London, Warsaw, Bangalore, H ...
and
Allianz
Allianz ( , ) is a German multinational financial services company headquartered in Munich, Germany. Its core businesses are insurance and asset management.
The company is one of the world's largest insurers and financial services groups. The ...
.
The ultimate goal, according to Dukmejian, is for ''Bloomberg Markets'' to reach a circulation of 450,000 with 15,000 on newsstands.
In June 2011, ''Bloomberg Markets'' announced the launch of the
50 Most Influential franchise, its list of the most influential people in global finance, which appeared in the October 2011 issue. To coincide with the issue, the magazine hosted the inaugural Bloomberg Markets 50 Summit, a day-long event, held in September 2011 in New York City.
A second 50 Most Influential ranking was published in the magazine's October 2012 issue.
''Bloomberg Markets'' would be testing a spin-off luxury title with a spring 2012 issue called ''Bloomberg Pursuits''.
In October 2015, it was announced by the parent company that ''Bloomberg Markets'' would reduce publication from 11 issues a year to six.
[
]
Staff
''Bloomberg Markets'' has a staff of editors in the U.S., Latin America, Europe and Asia. In addition, the magazine draws on contributions from journalists at Bloomberg News
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 Televi ...
, a global news service with 146 bureaus in 72 countries.
Honors and awards
''Bloomberg Markets'' has won almost 200 journalism and design awards including a Gerald Loeb Award
The Gerald Loeb Award, also referred to as the Gerald Loeb Award for Distinguished Business and Financial Journalism, is a recognition of excellence in journalism, especially in the fields of business, finance and the economy. The award was estab ...
, a Scripps Howard Award and a George Polk Award
The George Polk Awards in Journalism are a series of American journalism awards presented annually by Long Island University in New York in the United States. A writer for Idea Lab, a group blog hosted on the website of PBS, described the award ...
. In 1995, the magazine was a finalist for the National Magazine Awards
The National Magazine Awards, also known as the Ellie Awards, honor print and digital publications that consistently demonstrate superior execution of editorial objectives, innovative techniques, noteworthy enterprise and imaginative design. Or ...
in the General Excellence category for magazines with a circulation under 100,000.
In 2006, editor Ron Henkoff won the Lawrence Minard Award as part of the Gerald Loeb Awards, which recognizes an editor whose career achievements and contributions to the profession of business, financial and economic journalism exemplify excellence in the area of editing.
In 2011, ''Bloomberg Markets'' was named a finalist for the American Society of Magazine Editors
The American Society of Magazine Editors (ASME) is an industry trade group for magazine journalists and editors of magazines published in the United States. ASME includes the editorial leaders of most major consumer magazine in print and digital ex ...
' General Excellence Award for Finance, Technology and Lifestyle Magazines and ''Bloomberg Markets'' senior writer David Evans was named a Pulitzer Prize
The Pulitzer Prize () is an award for achievements in newspaper, magazine, online journalism, literature, and musical composition within the United States. It was established in 1917 by provisions in the will of Joseph Pulitzer, who had made h ...
finalist in the National Reporting category. Evans also received the 2011 John Chancellor Award
John Chancellor Award for Excellence in Journalism is an annual award of $25,000 selected by a panel of journalists, for courageous and sustained reporting.
Established in 1995, the award was formerly administered by the University of Pennsylvania ...
given by Columbia Journalism School
The Columbia University Graduate School of Journalism is located in Pulitzer Hall on the university's Morningside Heights, Manhattan, Morningside Heights campus in New York City.
Founded in 1912 by Joseph Pulitzer, Columbia Journalism School is ...
.
In 2012, ''Bloomberg Markets'' was made available in digital form for the iPad
The iPad is a brand of iOS and iPadOS-based tablet computers that are developed by Apple Inc. The iPad was conceived before the related iPhone but the iPhone was developed and released first. Speculation about the development, operating s ...
alongside its Businessweek
''Bloomberg Businessweek'', previously known as ''BusinessWeek'', is an American weekly business magazine published fifty times a year. Since 2009, the magazine is owned by New York City-based Bloomberg L.P. The magazine debuted in New York City ...
subscription circulation.
Notable stories and their impact
"Duping The Families of Fallen Soldiers" (September 2010)
Following a six-month investigation, David Evans's article revealed that life insurance
Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death ...
companies were withholding billions of dollars in benefits from the families of slain soldiers and millions of other Americans. As a result of the article, the U.S. Department of Veterans Affairs
The United States Department of Veterans Affairs (VA) is a Cabinet-level executive branch department of the federal government charged with providing life-long healthcare services to eligible military veterans at the 170 VA medical centers an ...
required that Prudential offer the families of slain soldiers the option of receiving one check for the full amount of the death benefit. Evans was named as a finalist for the 2011 Pulitzer Prize
The Pulitzer Prize () is an award for achievements in newspaper, magazine, online journalism, literature, and musical composition within the United States. It was established in 1917 by provisions in the will of Joseph Pulitzer, who had made h ...
for his article.
"Toxic Debt" (July 2007)
This three-story cover package revealed the complicit role of rating companies Moody's
Moody's Investors Service, often referred to as Moody's, is the bond credit rating business of Moody's Corporation, representing the company's traditional line of business and its historical name. Moody's Investors Service provides international ...
and Standard and Poor's
S&P Global Ratings (previously Standard & Poor's and informally known as S&P) is an American credit rating agency (CRA) and a division of S&P Global that publishes financial research and analysis on stocks, bonds, and commodities. S&P is consi ...
in creating the complex mortgage-backed securities stuffed with subprime debt that would trigger the global credit crisis.
"Big Pharma's Shameful Secret" (December 2005)
The article revealed that poorly supervised clinical trials for potential new drugs often injure and kill participants. As a result of the magazine's expose, the largest clinical trial company in the U.S. ousted its three top managers and government authorities shut down its biggest test center.
"The Banks That Fleeced Alabama" (September 2005)
''Bloomberg Markets'' magazine reported that a group of banks led by JPMorgan Chase
JPMorgan Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York City and incorporated in Delaware. As of 2022, JPMorgan Chase is the largest bank in the United States, the ...
had overcharged Jefferson County, home to Birmingham
Birmingham ( ) is a city and metropolitan borough in the metropolitan county of West Midlands in England. It is the second-largest city in the United Kingdom with a population of 1.145 million in the city proper, 2.92 million in the West ...
, by at least $60 million in fees assessed on $5.8 billion in complex contracts called Interest-rate swaps that the county used to finance a sewer system. In October 2009, former Birmingham Mayor Larry Langford
Larry Paul Langford (March 18, 1946 – January 8, 2019) was an American politician who had a one-term tenure as the mayor of the city of Birmingham, Alabama. At the time of his death, Langford was hospitalized on compassionate release from servi ...
was convicted of taking bribes to steer a share of the JPMorgan deals to a local bank. As a result of the corruption, in November 2011, Jefferson County filed the largest municipal bankruptcy
Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor ...
in U.S. history.
References
External links
*
Other provider fo
bloomberg markets magazine subscription
{{Bloomberg
Business magazines published in the United States
Monthly magazines published in the United States
Markets
Market is a term used to describe concepts such as:
* Market (economics), system in which parties engage in transactions according to supply and demand
* Market economy
*Marketplace, a physical marketplace or public market
Geography
*Märket, a ...
Magazines established in 1992