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related:
Reuters
Thomson
Dow Jones
news
services
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This
profile considers the Bloomberg financial news and data
services group.
introduction
Based in New York, Bloomberg employs over 7,200 people
(including 1,100 reporters) in 9 sales offices, 2 data
centers and 80 news bureaus worldwide.
It is extending from electronic provision of financial
data - primarily through its proprietary devices - to
general news services, business television, syndicated
radio content and professional publishing (Bloomberg Books,
Bloomberg Wealth Manager, Bloomberg Money, Bloomberg
Markets, On Investing).
As of September 2002 it had annual revenues of around
US$2.8 billion and had leased an estimated 170,000 terminals.
93% of revenue was attributable to terminal leases. The
number of Bloomberg terminals grew by 21% in 1998, 17%
in 1999 and 9.5% in 2001; forecast growth for 2002 was
about 6%. Revenue in 2006 was around US$4.7 billion, with
operating profits (that is, before taxes) of around US$1.5
billion.
The founder owns around 68% of the group, with some 20%
reportedly held by Merrill Lynch. Its corporate site is
here.
Bloomberg was elected as mayor of New York in 2001 and
relelected in 2005. He spent over US$77 million to get
re-elected, breaking the US$74 million record he set in
2001, according to campaign finance reports released in
December 2005.
studies
Michael Bloomberg's Bloomberg By Bloomberg (New
York: Wiley 1997) is a brash account of the financial
information services empire built by former corporate
banker and current New York mayor Bloomberg. Judging by
his account he has never made a mistake.
related
Information about competitor Reuters is here.
Information about other news services is here.
chronology
1942 Michael Bloomberg born
1964 graduates from Johns Hopkins University in Baltimore
1966 graduates from Harvard Business School
1972 becomes partner at Salomon Bros
1981 Bloomberg Limited Partnership [LP] founded
1990 Bloomberg News launched
2001 Michael Bloomberg elected Mayor of New York
2005 reelected
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