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Bloomberg

Justin Smith on Bloomberg TV: ‘We’re Sort of in the Top of the First Inning Here’

justin smith bloombergAs he prepares to wrap up an 100-day review of the company, Bloomberg Media Group CEO Justin Smith talks to AdAge about first months at his new job. He also talks about Bloomberg’s digital video production, which ended 2013 as the top site for global business video, and hints at possible changes to Bloomberg TV under Josh Tyrangiel‘s leadership:

Ad Age: Does Bloomberg TV need to be more broadly accessible? Would we ever see it as more of a CNBC – or even a CNN — that reaches beyond business media?

Mr. Smith: The vast majority of the content we produce is for the global business community — their business interests, their financial interests, their work-related or professional-related interests. However, we are increasingly growing our media businesses and media platforms around the lifestyle side of this global business audience.

Ad Age: Are we going to see the kind of splashy packaging Josh Tyrangiel brought to Businessweek reflected on Bloomberg TV? Read more

Business Networks Live From Davos

business networks davos

The World Economic Forum annual meeting is underway in Switzerland, and all three business networks have correspondents in Davos for the week.

Liz Claman is in Davos for FBN. Claman will interview several executives, including the CEOs of Aetna, NASDAQ, Citigroup and Coca-Cola. Also in Davos this week: Maria Bartiromo, who is expected to join FBN next month. Bartiromo will moderate a panel discussion Thursday.

Bloomberg TV has several correspondents at the forum: Francine Lacqua, Tom Keene, Erik Schatzker, Stephanie Ruhle and Hans Nichols.

Andrew Ross Sorkin is in Davos for CNBC. Becky Quick and Joe Kernen will join him tomorrow and the three will host “Squawk Box” live from Switzerland this week.

Bloomberg’s Betty Liu Celebrates ‘Work Smarts’

Betty Liu with Work SmartsBloomberg TV anchor Betty Liu was feted for her new book, “Work Smarts: What CEOs Say You Need to Get Ahead,” this week at a party hosted by Chris Burch, the founder and CEO of Burch Creative Capital.

In his toast, Burch, who is featured in the book, praised Liu’s interviewing abilities, saying she asks “ingenious and beautiful questions” and is an “amazing woman, true to the heart.” The book also includes interviews with Warren Buffett, Jamie Dimon and Sam Zell, among many others.

In a speech, Liu thanked her Bloomberg colleagues, who she said “really held my hand” through the writing process.

“‘Work Smarts’ was a labor of love, but it was probably more like labor. I’ve written a book before, but this time it was with twin boys and also waking up at 3:45 in the morning everyday,” Liu said. “So I tried not to take myself too seriously when writing this book.”

Bloomberg TV Expands to Malaysia

bloomberg tv logo_304x200As the domestic arm of Bloomberg Television undergoes a realignment of sorts, there is international expansion for the network on the horizon: Bloomberg TV will partner with Encorp Group to launch the first business news channel in Malaysia next year.

The channel will have state-of-the-art studios in Encorp Strand Mall and seek to “fill a gap in the marketplace for high-quality, market-moving business news, where updates on the country’s economic and business performance will be potentially seen by 340 million homes worldwide,” Bloomberg TV Malaysia CEO Michael Chan said in a statement.

The expansion to Malaysia follows the launch of Bloomberg TV Indonesia and Mongolia in the past year. More details in the press release after the jump. Read more

Why Biz Network Ratings Continue to Slide

BixNetworksLogos

The Wall Street Journal takes stock of the three TV business networks and sees that their fortunes are sagging.

In the third quarter, CNBC, the dominant business-news channel, hit a 20-year low in its target demographic of adults 25 to 54 years old. (CNBC’s gross advertising revenue is down 4% to $251.6 million since last year, according to SNL Kagan.) Six-year-old Fox Business Network remains on a long-term growth trajectory, but its average total daytime audience has declined from last year — to 58,000 from 71,000 — and has fallen short of some media buyers’ expectations. Bloomberg LP, meanwhile, is rethinking the business model of its TV channel, having failed to turn a profit or draw more than 10% of the audience for TV business news despite being on the air for nearly two decades.

Why is this happening? Reporters Keach Hagey and William Launder write that, beyond online and streaming competition, “business television has faced the added challenge that individual investors are fleeing the stock market as an increasing amount of trading is done by institutional investors and algorithms.”

“I think there are all sorts of places you can get stock prices,” said Kevin Magee, the executive vice president of Fox Business Network. “Aside from that, there is general unhappiness with the economy these days, and it isn’t always fun to watch news that’s bad.”

Other highlights from the article…

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The Biz Ticker: Brennan, Survey Says, Bloomberg

  • Morgan Brennan joins CNBC as a general assignment reporter. Brennan comes from Forbes Media where she was a staff writer and reporter Forbes Magazine, ForbesLife and Forbes.com. She also worked as an anchor/reporter/producer for the Forbes Video Network.

  • In a Business Insider survey about financial news, Bloomberg TV beat out CNBC and Fox Business as the preferred channel among those polled. Bloomberg TV also has the preferred morning show, preferred closing bell show and best anchors.

  • The New York Times has a meaty A1 story all about Bloomberg News amid staffing cuts, new news initiatives and its place in the Bloomberg business empire.

Sara Eisen, Justin Dial Leave Bloomberg TV

BLOOMBERG-tv-LOGOTVNewser has learned about a handful of notable departures from Bloomberg Television recently.

Justin Dial, who joined Bloomberg in 2011 as head of U.S. newsgathering, has joined Al Jazeera America as deputy head of newsgathering. In his new role, he will report to Marcy McGinnis, Al Jazeera America’s senior vice president of newsgathering.

Another recent departure from Bloomberg TV is Sara Eisen, who anchored “Bloomberg Surveillance” alongside Tom Keene. Eisen announced on Twitter she will join CNBC on December 16.

TVNewser hears there have been other departures from the network recently, including a show producer who is leaving for Fox Business and Chris Berend head of digital video, is joining CNN. Andrew Morse, who had been the head of U.S. television for Bloomberg left for CNN in August.

Under the leadership of newly-installed CEO Justin Smith, Bloomberg Media Group is the midst of a 100-day review as “a strategic planning exercise to map our future course,” according to AdWeek. Bloomberg Businessweek editor Josh Tyrangiel has temporarily moved to the TV side. And as TVSpy reported, the company is ending production of its local market reports, seen on nearly 200 stations across the country.

FCC Reaffirms Decision In Bloomberg TV-Comcast Dispute

ComcastBloombergLogoThe FCC has affirmed the decision of its Media Bureau, which ruled that as a condition of acquiring NBCUniversal, Comcast is obligated to place Bloomberg TV in the same news channel “neighborhoods” as competitors like CNBC and Fox Business.

Comcast has been fighting the decision since it was handed down last year, arguing that it would cause “significant and unwarranted burdens on us, our customers, and other programming networks.” Comcast will now have to make room for Bloomberg TV in the same neighborhoods, likely leading to new channel lineups for its customers, and making some existing channels unhappy.

The decision could also set a precedent, as other independent news channels try to gain carriage on Comcast. Al Jazeera America could very well argue that it too deserves to be neighborhooded near CNN and Fox News. Comcast, America’s largest cable provider, carries AJAM in many markets.

When the Media Council ruled in favor of Bloomberg TV last year, it defined news channels strictly, but in a way that AJAM would seem to fall into:

[W]e conclude that the term “news channels,” as used in the condition, refers to channels whose programming during the hours from 6:00 a.m. to 4 p.m. is focused on reporting and analysis relating to public affairs or local affairs of general interest or relating to business.

The dueling statements from Comcast and Bloomberg:
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Bloomberg Adds Independent Senior Editor, Standards Editor Following Snooping Scandal

Bloomberg has published a pair of independent reports that reviewed the company’s practices in light of the snooping scandal that rocked the company earlier this year. The reports, from former IBM CEO Samuel Palmisano and former New York Times ombudsman Clark Hoyt, looked at practices and compliance for terminal data and the relationship between the news and terminal divisions, respectively.

Bloomberg has also promised to institute changes as a result of the reports.

For starters, there will be an independent senior editor who will not report into the newsroom, and will handle complaints about news coverage–effectively creating an ombudsman role. There will also be a newsroom standards editor who will make sure all news “consistently adheres to The Bloomberg Way’s high standards for accuracy, rigor in reporting, balance and tone.”

On a more basic level, Bloomberg will create task forces charged with monitoring privacy, compliance and ethical guidelines. It will also ensure that journalists in the news division do not have access to the restricted data about Terminal clients, and will launch new training programs for staff.

More information on the changes from Bloomberg here.

Andrew Morse Expected to Leave Bloomberg TV for CNN

Bloomberg LP head of U.S. television Andrew Morse is planning to leave the financial news channel for CNN, TVNewser has learned.

At CNN Morse is expected be in a high-level role related to newsgathering, though his exact title isn’t yet clear. He would report into CNN Worldwide president Jeff Zucker, who has been seeking to refresh the channel’s content and strategy since taking over early this year.

Morse joined Bloomberg TV in June 2011, taking over responsibility for editorial, programming operations and development, while also advising on other Bloomberg Media properties.

Morse began his career at ABC News in 1996 as a desk assistant, before becoming a producer. He took over “Good Morning America” weekend in 2007, and then shifted to ABC News Digital as executive producer of innovation and integration before joining Bloomberg.

CNN and Bloomberg TV declined to comment.

Update: Bloomberg Media chief Andy Lack has confirmed the move in an email to Bloomberg staff obtained by TVNewser. You can read it below.
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