Bloomberg L.P. is a privately-held company primarily owned by three-term New York City Mayor Michael Bloomberg. Bloomberg L.P. is a financial information giant, selling primarily to corporate and other institutional clients via its Bloomberg Terminals, which cost nearly $20,000/year each. Bloomberg L.P. has also built a consumer-oriented business news operation, and has put all news operations underneath one umbrella called the Bloomberg Media Group. Bloomberg Media Group also houses BusinessWeek magazine, now called Bloomberg BusinessWeek, which Bloomberg L.P. acquired from McGraw-Hill in late 2009. Bloomberg Media Group also includes the monthly Bloomberg Markets magazine, Bloomberg Television and Bloomberg Radio, Bloomberg Government, and Bloomberg.com. As of 2011, more than 85% of Bloomberg L.P.'s revenue comes from its Bloomberg terminal. In 2005, Bloomberg introduced Bloomberg Law, which integrates legal content, company and client information, and proprietary news. In December of 2009, Bloomberg acquired New Energy Finance and formed Bloomberg New Energy Finance, a media division dedicated to covering renewable energy news. Bloomberg was founded in 1981 by Michael Bloomberg, Thomas Secanda, and Charles Zegar with headquarters in New York, NY.
Overview & Corporate Organization
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Bloomberg Media Group
Bloomberg New Energy Finance
Michael R. Bloomberg
PrivCo Industries (Sector > Industry > Sub-Industry)
|Financial > Trading & Brokerage|
|Services > Information & Data Providers|
|Financial > Other Financial|
|Media > Broadcasting > Tv Networks|
|Media > Publishing > Magazines & Periodicals|
The PrivCo Industry Classification System™ (PICS) is our proprietary, modernized industry classification system, geared especially toward privately-held companies and including newer emerging sub-industries that are not reflected in other outdated industry classification systems, such as SIC and NAICS.
Competitors & Comparables
Charts, Financials, and Statistics (Table Format)
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|Operating Income (Loss)||View||View||View||View||View||View||View|
|*||Bloomberg L.P. fiscal year end: 12/31|
Charts, Financials, and Statistics (Graphs)
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Mergers & Acquisitions
|Details||Dec. 1996||Completed||Bloomberg L.P.1||Bloomberg Inc.||Minority Stake Purchase||$200,000,000|
|Details||Jun. 2012||Completed||View5||View||Direct Share Purchase||View|
|Details||Dec. 2012||Exploring / Rumored||View||View||Acquisition|
|1||Bloomberg Inc. is Michael R. Bloomberg's investment vehicle. - Details →|
|2||The deal was completed using...Read More →|
|3||Bloomberg acquired BusinessWeek from McGraw...Read More →|
|4||Financial information provider Bloomberg, acquired...Read More →|
|5||IMG has made an investment...Read More →|
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Detailed Business Description: Bloomberg L.P.
Michael Bloomberg earned an M.B.A from Harvard University in 1966. Shortly after graduation, he was hired by Salomon Brothers and eventually took charge of constructing the firms' computerized trading system. In 1981, Salomon Brothers completed a merger with Philbro and fired Michael Bloomberg. He left with a $10 million severance package, which he used to start Innovative Market Systems with the help of Thomas Secunda, Duncan MacMillan, and Charles Zegar.
In 1982, Merrill Lynch became Innovative Market Systems' first customer, purchasing 22 Market Master Terminals and investing 30 million in the company for a 30% stake. The initial deal included a clause that prohibited Innovative Market Systems from marketing its terminals to competitors for a period of 5 years. In return, Merrill Lynch offered the help of its traders in the development of what is known today as a Bloomberg Terminal.
In 1984, Bloomberg launched the portable Bloomberg machine and… Continue Reading →