Under the new structure, the business operations of Bloomberg Businessweek, Bloomberg Markets magazine, Bloomberg Television, Bloomberg Radio, Bloomberg.com and Bloomberg Mobile will join together to create a powerful new global group with the ability to offer integrated solutions for advertisers and a more seamless experience for business news consumers.
Paul Bascobert (pictured), President of Bloomberg Businessweek, has been named Head of Business Operations for the Bloomberg Media Group. Bascobert will work across business units to help drive strategy and revenue growth for the Group going forward. Bascobert, who will continue to serve as President of Bloomberg Businessweek, will report to Bloomberg Media Group CEO Andy Lack.
"This is an exciting time to announce the formation of the Bloomberg Media Group and to synthesize all the business units of Bloomberg's many consumer-facing platforms," said Lack. "By operating under one umbrella, we can better leverage our resources, drive deeper engagement with our readers and viewers, and provide the best solutions for advertisers."
"I'm looking forward to the opportunity to help drive Bloomberg Media Group's growth at this critical time in the company's history," said Bascobert. "As Bloomberg continues to reach more influential business news consumers worldwide, it's critical that we deliver the most comprehensive solutions for advertisers around the world."
“Today we're taking the next step in transforming Bloomberg into a media powerhouse," said Dan Doctoroff, President of Bloomberg L.P. "At the core of our business model is the belief that it starts with great content. Today, by bringing all our consumer businesses under one roof, we're creating a more seamless way to bring that content to market and allow advertisers to engage with our audience."
According to Bloomberg, the Bloomberg Media Group leverages the power of one of the largest newsgathering operations in the world and reaches millions of global business leaders and news consumers on a daily basis. Bloomberg Markets magazine is the largest monthly magazine for financial professionals in the world, with a circulation of more than 355,000 and growing. Bloomberg Businessweek magazine is a market leader with more than 4.6 million readers each week in 140 countries. Bloomberg Television is available in more than 250 million homes worldwide and in the U.S., Bloomberg Radio is syndicated to more than 200 radio affiliates. Together, Bloomberg.com and Businessweek.com reach more than 20 million individuals each month and Bloomberg Mobile's industry-leading application, available on the iPad, iPhone, BlackBerry and Nokia devices, have been downloaded more than six million times.
