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Concept
Bloomberg News
Summary
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 served as editor-in-chief.
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.
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?"
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."
Winkler recalls this as his "deciding moment", the time at which he became willing to help Bloomberg build his news organization.
The publication was created to provide concise, timely financial news.
Official source
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