Bloomberg L.P. Consolidates To Play Up Growing Media Assets

07/18/2008 05:12 am ET | Updated May 25, 2011

Bloomberg L.P., the financial news and data company founded by Mayor Michael R. Bloomberg, announced a revamping on Wednesday intended to play up its growing assets in television, radio and Internet content.

The company, best known for its Bloomberg computer terminals, said the changes were meant to serve customers better by consolidating disparate divisions. The company will now be divided into three main units: news, data and financial products.

The news unit will include the company's existing news-gathering operation, which produces business articles for the Bloomberg terminals and other outlets, as well as a revamped multimedia department, which will run the company's 11 television channels, radio network and Web site.

The data division will comprise the company's databases and law information. The financial products division will house the core terminal business, trading systems and analytics.

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