According to Matthew Winkler, then a writer for The Wall Street Journal, Michael Bloomberg telephoned him in November 1989 and asked, "What would it take to get into the news business?
[3] During this growth period Bloomberg News opened a small television station in New York, purchased New York radio station WNEW, launched fifteen-minute weekday business news programs for broadcast on PBS, and opened offices in Hong Kong and Frankfurt, Germany.
[citation needed] In 2012, Bloomberg News published investigative series titled "Revolution to Riches", which focused on China's political elite.
[18] After the story was published in June 2012, the Chinese government ordered state enterprises not to subscribe to Bloomberg News.
The company's website was also blocked on Chinese servers, and it was unable to obtain visas for journalists it wanted to send to China.
Another planned article "about the children of senior Chinese officials employed by foreign banks" was also killed, according to Bloomberg employees.
[20] At least five journalists and editors, including the lead writer on the Xi story,[18] left the company after news reports about the decision appeared.
[21] Bloomberg Chairman Peter Grauer told the staff at the Bloomberg Hong Kong bureau that the company's sales team had done a "heroic job" of mending relations with Chinese officials who had indicated their displeasure about the publication of the Xi revelations.
This memo indicated an intent to refocus the agency to better target its core audience, "the clever customer who is short of time", and better achieve the goal of being "the definitive 'chronicle of capitalism.
'"[2] This change led to a reduction in reporting on general interest topics in favor of content related to business and economics.
Bloomberg uses a metered paywall to charge visitors for content, limiting users to view 10 free articles per month with unlimited re-read option, and 30 minutes of Bloomberg Television watch per day with reset at local midnight time.
[28][29] In 2016, Bloomberg published a news release claiming to be from Vinci SA, a French construction company, that it had discovered accounting irregularities and had to revise its earnings reports.
Vinci's stock briefly fell by 18% when Bloomberg published it, although it quickly recovered once it became clear it was not true.
In 2019, France's stock markets regulator, the Autorité des marchés financiers, fined Bloomberg €5 million for publishing the report, stating that it should have known it was false.
"[34] Former Bloomberg News DC Bureau Chief Megan Murphy also criticized the decision, saying it bars "talented reporters and editors from covering massive, crucial aspects of one of the defining elections of our time" and calling the decision to avoid coverage "not journalism".
[35] Responding to the controversy, Michael Bloomberg told CBS News: "We just have to learn to live with some things."
[38] The company acquired the magazine to attract general business to its media audience composed primarily of terminal subscribers.
[41] In 1995, the network entered the cable television market and by 2000, Bloomberg's 24-hour news programming was being aired to 200 million households.
[44] In addition to providing international financial news to industry professionals, the magazine included points for navigating terminal functionality.
[51][52] The multimedia venture, which debuted in October 2014, featured the daily television news program With All Due Respect, hosted by Bloomberg Politics Managing Editors Mark Halperin and John Heilemann.
[57] Bloomberg's section on U.S. politics primarily covers national news and American foreign policy.