Media Conglomeration

1. Saira RANDHAWA
SAIRA RANDHAWA |
Bloomberg
Contemporary World Media

2. Saira RANDHAWA
SAIRA RANDHAWA |
Bloomberg
The Bloomberg Media Group is the company’s unified media group comprising the
company’s television, print, radio, syndication, mobile, events and digital media properties,
providing integrated solutions for advertisers and a seamless experience for consumers of
business news.
Bloomberg L.P (Limited partnership) is a privately held
financial software, data and media company headquartered in New
York City. Bloomberg L.P. was founded by Michael Bloomberg in
1981 with the help of Thomas Secunda, Duncan MacMillan,
Charles Zegar and a 30% ownership investment by Merrill Lynch.
Bloomberg L.P. provides financial software tools such as an analytics and equity trading
platform, data services and news to financial companies and organizations through
the Bloomberg terminal (via its Bloomberg Professional Service), its core money generating
product.
Industry Financial services, Mass media, Technology
Founded October 1, 1981
Headquarters Midtown Manhattan, New York City, USA
Number of locations 192 offices
Key people Peter Grauer (Chairman), Michael Bloomberg(President & CEO)
Revenue US$8.3 billion (2013)
Owner Michael Bloomberg (88%)
Number of employees 15,000 (2011)
Website www.bloomberg.com

3. Saira RANDHAWA
SAIRA RANDHAWA |
Headquarters of Bloomberg
Bloomberg L.P.'s headquarters is located in 731 Lexington Avenue (informally
known as Bloomberg Tower) in Midtown Manhattan, New York City. As of 2011,
Bloomberg L.P. occupied 900,000 sq ft (84,000 m2) of office space at the base of the tower.
The company's New York offices also include 400,000 sq ft (37,000 m2) located at 120 Park
Avenue. It maintains offices in more than 192 locations around the world.
The Bloomberg L.P. offices are non-hierarchical, even executives do not have private
offices. All employees sit at identical white desks each topped with a custom built Bloomberg
computer terminal. The office space also includes rows of flat-panel monitors overhead that
display news, market data, the weather and Bloomberg customer service statistics.
History:
In 1981, Salomon Brothers was acquired, and Michael Bloomberg, a general partner,
was given a $10 million partnership settlement. Bloomberg, having designed in-house
computerized financial systems for Salomon, used his $10 million severance check to start
Innovative Market Systems (IMS). Bloomberg developed and built his own computerized
system to provide real-time market data, financial calculations and other financial analytics
to Wall Street firms. In 1983, Merrill Lynch invested $30 million in IMS to help finance the
development of "the Bloomberg" terminal computer system and by 1984, IMS was selling
machines to all of Merrill Lynch's clients.

4. Saira RANDHAWA
SAIRA RANDHAWA |
In 1986, the company was renamed Bloomberg L.P and 5,000 terminals had been
installed in subscribers' offices. Within a few years, ancillary products including Bloomberg
Trade book (a trading platform), the Bloomberg Messaging Service, and the Bloomberg
newswire were launched. Bloomberg launched its news services division in 1990.
Bloomberg.com was first established on September 29, 1993 as a financial portal with
information on markets, currency conversion, news and events, and Bloomberg Terminal
subscriptions.
In late 1996, Bloomberg bought back one-third of Merrill Lynch's 30 percent stake in
the company for $200 million, increasing the company's market value to $2 billion. In 2008,
facing losses during the financial crisis, Merrill Lynch agreed to sell its remaining 20 percent
stake in the company back to Bloomberg, Inc, the trust that manages Michael Bloomberg's
assets, for a reported $4.43 billion. After the sale, Bloomberg L.P. was valued at
approximately $22.5 billion.
Bloomberg L.P. has remained a private company since its founding; the majority of
which is owned by Michael Bloomberg. To run for the position of Mayor of New
York against Democrat Mark Green in 2001, Bloomberg gave up his position of CEO and
appointed Lex Fenwick as CEO in his stead. Peter Grauer is the chairman. In 2008, Fenwick
became the CEO of Bloomberg Ventures, a new venture capital division. Daniel Doctoroff,
former deputy mayor in the Bloomberg administration, now serves as president and CEO. In
September 2014 it was announced that Michael Bloomberg would be taking the reins of his
eponymous market data company from Doctoroff, who was chief executive of Bloomberg for
the past six years after his term as Deputy Mayor.
In September 2014, Bloomberg sold its Bloomberg Sports
analysis division to the data analysis firm STATS LLC for a fee
rumored to be between $15 million and $20 million.
Acquisitions of Bloomberg
Bloomberg L.P. has made several acquisitions including:
 WNEW
 Business Week
 Eagle Eye Publishing
 New Energy Finance
 Bureau of National Affairs (BNA)
 Bloomberg Polar Lake

5. Saira RANDHAWA
SAIRA RANDHAWA |
1. WNEW
In 1992, Bloomberg L.P. purchased New York Radio station WNEW for $13.5
million. The station was converted into an all news format, known as Bloomberg Radio, and
the call letters were changed to WBBR.
2. Business Week
Bloomberg L.P. bought weekly business magazine, Business Week, from McGraw
Hill in 2009. The company acquired the magazine, which was suffering from declining
advertising revenue and limited circulation numbers to attract general business to its media
audience composed primarily of terminal subscribers. Following the acquisition, Business
Week was renamed Bloomberg Businessweek. Josh Tyrangiel serves as editor.
3. Eagle Eye Publishing
In 2010, Bloomberg L.P acquired Eagle Eye Publishing, a Fairfax, VA based
company that publishes data about procurement by the Federal Government. This acquisition
became part of Bloomberg Government which was launched in early 2011.
4. New Energy Finance
Guy Turner, director of Carbon Markets Research at Bloomberg New Energy
Finance. In 2009, Bloomberg L.P. purchased New Energy Finance, a data company focused
on energy investment and carbon markets research based in the United Kingdom. New
Energy Finance was created by Michael Liebreich in 2004 to provide news, data and analysis
on carbon and clean energy markets. Bloomberg L.P. acquired the company to become an
industry resource for information to support low-carbon energy solutions.
5. Bureau of National Affairs (BNA)
Bloomberg L.P. purchased Arlington, Virginia-based Bureau of National Affairs in
August 2011 for $990 million to bolster its existing Bloomberg Government and Bloomberg
Law services. BNA publishes specialized online and print news and information for
professionals in business and government. The company produces more than 350 news
publications in topic areas that include corporate law and business, employee benefits,
employment and labor law, environment, health and safety, health care, human resources,
intellectual property, litigation, and tax and accounting.
6. Bloomberg Polar Lake
In May 2012, Bloomberg LP acquired Dublin-based software provider PolarLake and
launched a new enterprise data management (EDM) service to help companies acquire,
manage and distribute data across their organizations.

6. Saira RANDHAWA
SAIRA RANDHAWA |
Products and services of Bloomberg
Following are the products and services of Bloomberg L.P:
1. Bloomberg Professional Service
2. Bloomberg News
3. Bloomberg Television
4. Bloomberg Markets
5. Bloomberg Government
6. Bloomberg Law
7. Bloomberg View
8. Bloomberg Trade book
9. Bloomberg Beta
10. Bloomberg Innovation Index
11. Open Bloomberg
1. Bloomberg Professional Services
In 2011, sales from the Bloomberg Professional
Service, also known as the Bloomberg terminal, accounted for
more than 85 percent of Bloomberg L.P.'s annual revenue.
The proprietary computer system, available for $1,800 per month, allows subscribers to
access the Bloomberg Professional service to monitor and analyze real-time financial data,
search financial news, obtain price quotes and send electronic messages through the secure
Bloomberg Messaging Service. A Bloomberg terminal with a multi-monitor set-up composed
of six screens.
2. Bloomberg News
Bloomberg News, originally known as Bloomberg Business News. Bloomberg
News is an international news agency headquartered in New York, United States and
a division of Bloomberg L.P. Bloomberg News was co-founded by Michael Bloomberg and
Matthew Winkler in 1990 to deliver financial news reporting to Bloomberg terminal
subscribers. In 2010, Bloomberg News included more than 2,300 editors and reporters in 72
countries. Content produced by Bloomberg News is disseminated through the Bloomberg
terminal, Bloomberg Television, Bloomberg Radio, Bloomberg Business week, Bloomberg
Markets and Bloomberg.com. Co-founder Matthew Winkler still serves as editor-in-chief.

7. Saira RANDHAWA
SAIRA RANDHAWA |
3. Bloomberg Television
Bloomberg Television, a service of Bloomberg News, 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. Soon after, the network entered
the cable television market and by 2000, Bloomberg's 24-hour news programming was being
aired to 200 million households. Justin B Smith serves as CEO of Bloomberg Multimedia
Group which includes Bloomberg Radio, Bloomberg Television and online components of
Bloomberg's multimedia offerings.
4. Bloomberg Markets
Bloomberg Markets is a monthly magazine launched in 1992 that provides in-depth
coverage of global financial markets for finance professionals. In 2010, the
magazine was redesigned in an effort to update its readership beyond Bloomberg terminal
users. Michael Dukmejian has served as the magazine's publisher since 2009.
5. Bloomberg Government
Launched in 2011, Bloomberg Government is an online service that provides news
and information about politics, along legislative and regulatory coverage. The service is sold
via subscription for $5,700 a year and provides access to a database offering information such
as campaign contributions breakdowns, analysis of federal contracting, directories of agency
and congressional staff members and detailed analysis of legislation and regulation.
6. Bloomberg Law
In 2009, Bloomberg L.P. introduced Bloomberg Law, a subscription service for real-
time legal research. A subscription to the service provides access to law dockets, legal filings,
and reports from Bloomberg legal analysts as well as business news and information.

8. Saira RANDHAWA
SAIRA RANDHAWA |
7. Bloomberg View
Bloomberg View is an editorial division of Bloomberg News which launched in May
2011. Bloomberg View provides editorial content from columnists, authors and editors about
news issues and is available for free on the company's website. David Shipley, former Op-Ed
page editor at The New York Times, serves as Bloomberg View's executive editor.
8. Bloomberg Tradebook
Bloomberg Tradebook is an electronic agency brokerage for equity, futures, options
and foreign exchange trades. Its "buyside" services include access to trading algorithms,
analytics and marketing insights, while its "sellside" services include connection to electronic
trading networks and global trading capabilities. Bloomberg Tradebook was founded in 1996
as an affiliate of Bloomberg L.P.
9. Bloomberg Beta
Bloomberg Beta is a venture capital firm capitalized by Bloomberg L.P. Founded in
2013, the $75 million fund is focused on investments in areas broadly of interest to
Bloomberg L.P., and invests purely for financial return. It is headquartered in San Francisco.
10. Bloomberg Innovation Index
The Bloomberg Innovation Index is an annual ranking of how innovative countries
are. It is based on six criteria: research and development, manufacturing, high-
techcompanies, post-secondary education, research personnel, and patents. Bloomberg uses
data from the World Bank, the International Monetary Fund, the World Intellectual Property
Organization, the United States Patent and Trademark Office, the OECD and UNESCO to
compile the ranking.
11. Open Bloomberg
Bloomberg has openly licensed its symbology system (Bloomberg Open Symbology,
(BSYM)), and financial data API (Bloomberg Programming API, (BLPAPI)).

9. Saira RANDHAWA
SAIRA RANDHAWA |
Litigation of Bloomberg:
 EEOC
In September 2007, the Equal Employment Opportunity Commission filed a class-
action lawsuit against Bloomberg L.P. on behalf of more than 80 female employees who
argued that Bloomberg L.P. engaged in discrimination against women who took maternity
leave. In August 2011, Judge Loretta A. Preska of the Federal District Court in Manhattan
dismissed the charges, writing that the Equal Employment Opportunity Commission did
not present sufficient evidence to support their claim.
In September 2013, Preska dismissed an EEOC lawsuit on behalf of 29 pregnant
employees of Bloomberg L.P. In addition, she dismissed pregnancy bias claims from five
individual plaintiffs, and allowed part of the case from a sixth plaintiff to proceed.
 Board of Governors of the Federal Reserve
Bloomberg L.P. brought a lawsuit against the Board of Directors of the Federal
Reserve System (Bloomberg L.P. v. Board of Governors of the Federal Reserve System)
to force the Fed to share details about its lending programs during the U.S. Government
bailout in 2008. The records documented Federal Reserve loans issued to financial firms
and revealed the identities of the firms, the amounts borrowed and the collateral posted in
return. Bloomberg, L.P. won at the trial court level. The Second Circuit Court ruled in
favor of Bloomberg L.P. in March 2010, but the case was appealed to the Supreme
Court by a group of large U.S. commercial banks in October. In March 2011, the Supreme
Court let stand the Second Circuit Court ruling mandating the release of Fed bailout
details.
 Bloomberg Ltd
On October 22, 2008, Bloomberg L.P. applied for a change of name of Bloomberg
Ltd, of the Companies Act 2006. Bloomberg L.P. then amended its name to Bloomberg
Finance Three L.P. Bloomberg Ltd was ordered at the Company Names Tribunal on May
11, 2009 to change its name so as to not have a name that would likely interfere, by
similarity, with the goodwill of Bloomberg Finance Three L.P. as well as to pay costs.

10. Saira RANDHAWA
SAIRA RANDHAWA |
Reference:
 http://www.slideshare.net/athenatw/bloomberg-presentation
 http://www.bloomberg.com/company/announcements/bloomberg-lp-names-justin-b-
smith-ceo-of-bloomberg-media-group-4/
 http://adage.com/article/media/bloomberg-media-restructures-ad-sales-team/294424/
 https://en.wikipedia.org/wiki/Bloomberg_L.P.
 https://en.wikipedia.org/wiki/Bloomberg_News
 http://www.bloombergview.com/
 https://en.wikipedia.org/wiki/Bloomberg_L.P.#Notes