History
Bloomberg News was founded by Michael Bloomberg and Matthew Winkler in 1990 to deliver financial news reporting to Bloomberg Terminal subscribers. The agency was established in 1990 with a team of six people. Winkler was first editor-in-chief. In 2010, Bloomberg News included more than 2,300 editors and reporters in 72 countries and 146 news bureaus worldwide.Beginnings (1990–1995)
Bloomberg Business News was created to expand the services offered through the terminals. According to Matthew Winkler, then a writer for ''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. 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. Bloomberg Business News was renamed Bloomberg News in 1997.2000–2014
In 2009 Bloomberg News and ''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 George Polk Award for International Reporting. One story in the series delved into the family wealth of Chinese leader Xi Jinping. However, before publishing the Xi story, Bloomberg executives and senior editors met with Chinese diplomats twice, without informing the journalists working on the story. Zhang Yesui, the Chinese ambassador to the United States, reportedly threatened Bloomberg with consequences for its Chinese operations if it published the story. Bloomberg's editor-in-chief, Matthew Winkler, reportedly refused to stop the story from being published. Then-CEO Daniel Doctoroff also reportedly defended the investigation and insisted on publishing it, although he insisted on changes to soften the story's impact. After the story was published in June 2012, the Chinese government ordered state enterprises not to subscribe to Bloomberg News. The company's website was also blocked on Chinese servers, and it was unable to obtain visas for journalists it wanted to send to China. 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. At least five journalists and editors, including the lead writer on the Xi story, left the company after news reports about the decision appeared. 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. 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. 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." 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 mayor of New York. After the incidents, Bloomberg set about trying to repair its relationship with the Chinese government. By 2015, Bloomberg's reporters began receiving visas again. 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." 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."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.'" This change led to a reduction in reporting on general interest topics in favor of content related to business and economics.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. 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 secretMichael 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". 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. Following Bloomberg's announcement, the ''2024 Russian prisoner exchange
While the 2024 Russian prisoner exchange was still in progress, Bloomberg News broke a news embargo by reporting information provided by the White House. Other publications, including the '' Wall Street Journal'', criticized Bloomberg for breaking the embargo, potentially jeopardizing the exchange, and for a Bloomberg editor's apparent boasting for being the one to first publish a breaking news story.''Bloomberg Businessweek''
Bloomberg L.P. bought weekly business magazine ''Businessweek'' from McGraw-Hill in 2009. The company acquired the magazine to attract general business to its media audience composed primarily of terminal subscribers. Following the acquisition, ''Businessweek'' was renamed '' Bloomberg Businessweek''. Bloomberg Businessweek became a part of Bloomberg News after the acquisition from Bloomberg L.P.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. 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. Justin Smith is CEO of the Bloomberg Media Group which includes Bloomberg Radio, Bloomberg Television and mobile, online and advertising-supported components of Bloomberg's media offerings.''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. 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. Ron Henkoff has been editor of ''Bloomberg Markets'' since 1999 and Michael Dukmejian has been the magazine's publisher since 2009.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. Timothy L. O'Brien, a former New York Times reporter and editor, is senior executive editor of the division. 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". 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.Bloomberg Politics
Bloomberg Politics provides political coverage via digital, print and broadcast media. The multimedia venture, which debuted in October 2014, featured the daily television news program '' With All Due Respect'', hosted by Bloomberg Politics Managing Editors Mark Halperin and John Heilemann. The program came to an end on December 2, 2016. In 2016, Bloomberg Politics produced a documentary on the 2016 US presidential election called '' The Circus: Inside the Greatest Political Show on Earth''. As of 2024, Bloomberg Politics covers political events in the Americas, United Kingdom, Europe, Asia, and the Middle East. Bloomberg's section on U.S. politics primarily covers national news and American foreign policy.See also
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