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  • Bloomberg: Dominating Global News

    Bloomberg is booming.

    In New Hampshire, on a Tuesday night in October, Bloomberg Television was sponsoring its first-ever presidential-primary debate. A Bloomberg-branded hospitality tent had been erected to promote new products called Bloomberg Government and Bloomberg Law, and amid stacks of free Bloomberg hoodies, as name-brand journalists for Bloomberg News and Bloomberg View munched on lobster rolls, there stood off to one side a replica of the Bloomberg Professional terminal. It might as well have been a shrine. “The Bloomberg,” as the financial-data machine is known, is a computer so omniscient that God would use it if he day-traded, and the $6 billion it funnels into the company every year had paid for everything in sight.

    Other media outlets don’t have a cash cow anything like this. And BGov chairman Kevin Sheekey couldn’t help but rub it in, walking up to the terminal’s blinking prompt and challenging one guest: “Why don’t you look up the price of the New York Times Co.?”

    Ouch. As most of the news industry withers, Bloomberg is booming. Terminal money, which accounts for 80 percent of revenue, has helped the company hire more reporters and editors than anyone else on the planet—more than 2,700 of them—over the last 20 years, from Abuja, Nigeria, to Zagreb, Croatia. More recently it has launched powerful new tools for lobbyists, lawmakers, and other power brokers. Long averse to acquisitions, Bloomberg has also started buying up things it covets, like Businessweek magazine and, just this August, the legal-political research behemoth BNA. There is talk that the Financial Times might be its next meal.

    Read Full Article in Daily Beast.com

    Good luck.

    Calvin Wilson
    Founder and CEO
    Upstart: Business and Management for 20-40 Year Old Professionals
    calvin.wilson1@verizon.net
    http://twitter.com/Upstart__Nation

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