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Bloomberg L.P.
Bloomberg L.P. is a privately held financial software, data and media company
headquartered in New York City. Bloomberg L.P. was founded by Michael Bloomberg in 1981
with the help of Thomas Secunda, Duncan MacMillan, Charles Zegar and a 30% ownership
investment by Merrill Lynch. Bloomberg L.P. provides financial software tools such as an
analytics and equity trading platform, data services and news to financial companies and
organizations through the Bloomberg terminal (via its Bloomberg Professional Service), its core
money-generating product. Bloomberg L.P. also includes a wire service (Bloomberg News) and
a global television network (Bloomberg Television).

Bloomberg Television:
Bloomberg Television is an American-based international cable and satellite business
news television channel that is owned by Bloomberg L.P. It is distributed globally, reaching
over 310 million homes worldwide. It is primarily headquartered in New York City, with
European headquarters in London and Asian headquarters in Hong Kong.

Bloomberg Television first launched in the United States on January 1, 1994 under the name
Bloomberg Information TV, before it was shortened to its current name in 1998.

Bloomberg Television is a 24-hour financial news television network. It was introduced

in 1994 as a subscription service transmitted on satellite television provider DirecTV, 13 hours a
day, 7 days a week. 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. Andy Lack
serves as CEO of the Bloomberg Media Group which includes Bloomberg Radio, Bloomberg
Television and mobile, online and advertising supported components of Bloomberg's media
offerings.

International Bloomberg TV:

In February 2009, Bloomberg Television announced that it would cease operating some
of the international variations of the channel, placing a greater focus on a more international
Bloomberg channel.

On March 9, 2009, the localized channels available in Germany, France, Italy and Spain ceased
operations. Today, throughout Europe, the original pan-European version of Bloomberg Europe
(International) is available on cable and digital television providers.
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Since March 9, 2009, Bloomberg Television utilizes its existing international production teams
in Hong Kong (Bloomberg Asia), Europe (Bloomberg Europe) and America (Bloomberg) adding
a more global feel to the channel. Bloomberg International provides programming from Hong
Kong in the early morning, produced by Bloomberg Asia (International), from London in the late
morning, produced by Bloomberg Europe (International) and from its main headquarters in New
York City in the afternoon. Each Bloomberg receives localized advertising and a relevant
business news ticker on screen.

Bloomberg News:
Bloomberg News is an international news agency which was founded in1990 and
headquartered in New York, United States and is a division of Bloomberg L.P. Content produced
by Bloomberg News is disseminated through the Bloomberg terminal, Bloomberg Television,
Bloomberg Radio, Bloomberg Business week, Bloomberg Markets, Bloomberg.com and
Bloomberg's mobile platforms. Matthew Winkler currently serves as editor-in-chief. Bloomberg
News has 2300 employees.

History of Bloomberg News:

Bloomberg News, originally known as Bloomberg Business News, was co-founded by
Michael Bloomberg and Matthew Winkler in 1990 to deliver financial news reporting to
Bloomberg terminal subscribers.

The Bloomberg News agency was established in 1990 with a team of six people. In 2010,
Bloomberg News included more than 2,300 editors and reporters in 72 countries and 146 new
bureaus worldwide.

The idea for Bloomberg Business News came up in 1989 as an exploration in the
expansion of Bloomberg's growing services through the Terminal. Michael Bloomberg
approached Matthew Winkler, a writer for the Wall Street Journal at the time, to help build out
the service in a way that he envisioned would provide up-to-the-minute financial news that
would be communicated in a concise and intelligent way. As a fledgling company in 1990,
Bloomberg hoped that the news service would spread the company name, sell more Bloomberg
Terminals and end Bloomberg's reliance on the Dow Jones News Services, a valuable subscriber
service for the Terminal.

The creation of Bloomberg Business News required Winkler to open a Bloomberg office
in Washington, D.C. in order to report about political effects on the business world. However,
the Standing Committee of Correspondents (SCC) in Washington required Bloomberg News be
formally accredited to act as a legitimate news source, a title that Bloomberg Business News
only accomplished after agreeing to provide free Terminals to major newspapers in exchange for
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news space in the publications. This accreditation led to an annual growth over 35% until 1995.
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. By
1995, Bloomberg News had 335 reporters in 56 locations.

Bloomberg Businessweek:
Bloomberg L.P. bought weekly business magazine Businessweek from McGraw-Hill in
2009. The company acquired the magazine to attract general business to its media audience
composed primarily of terminal subscribers. Following the acquisition, Businessweek was
renamed Bloomberg Businessweek.

BusinessWeek suffered a decline during the late-2000s recession as advertising revenues

fell one-third by the start of 2009 and the magazine's circulation fell to 936,000. In July 2009, it
was reported that McGraw-Hill was trying to sell BusinessWeek. In late 2009, Bloomberg L.P.
bought the magazine for a reported $2 million to $5 million plus assumption of liabilities and
renamed it Bloomberg Businessweek. Adler resigned as editor-in-chief and was replaced by Josh
Tyrangiel, who had been deputy managing editor for Time magazine. In early 2010, the
magazine title was restyled Bloomberg Businessweek (with a lowercase "w") as part of a
redesign.