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Bloomberg Grows, Revamps Divisions

Bloomberg L.P. the financial news and data company founded by New York Mayor Michael Bloomberg, is reorganizing to take advantage of its growing assets in television, radio and Internet content. The company is best known for its Bloomberg computer terminals, which generate about 85% of its revenue, but other revenue streams are growing more quickly.

Peter T. Grauer, Bloomberg chairman, says that while other media companies are forecasting layoffs, Bloomberg was continuing to grow.

As part of the reorg, an external search will be conducted to find a leader for the Bloomberg multimedia division. Matthew Winkler, the editor-in-chief of Bloomberg News, will continue to oversee journalists who write for the terminals and for print.



Read the whole story at The New York Times »

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