Revision as of 14:37, 21 April 2024 edit 207.181.231.54 (talk) →‎Nafeesa Syeed v. Bloomberg L.P. Tags: Mobile edit Mobile web edit ← Previous edit		Revision as of 02:00, 1 June 2024 edit undo 42Q7 (talk \| contribs) 388 edits m →‎History: grammar Next edit →
Line 50: In late 1996, Bloomberg bought back one-third of Merrill Lynch's 30 percent stake in the company for $200{{nbsp}}million, valuing the company at $2{{nbsp}}billion.<ref>{{cite news\|url=https://www.wsj.com/articles/SB850771632890084000\|title=Bloomberg Buys Back Stake From Merrill for $200 Million\|newspaper=Wall Street Journal\|date=December 17, 1996}}</ref> In 2008, facing losses during the financial crisis, Merrill Lynch agreed to sell its remaining 20 percent stake in the company back to Bloomberg Inc.,<ref>{{cite web\|url=https://www.sec.gov/Archives/edgar/data/65100/000095012308008850/y64172e10vq.htm\|title=Quarterly Reports on Form 10-Q \|date=August 5, 2008 \|publisher=Securities and Exchange Commission }}</ref> majority-owned by Michael Bloomberg,<ref>{{cite web\|url=http://www.recode.net/2016/1/26/11589068/mike-bloomberg-is-worth-49-billion-much-more-than-most-people-thought\|title=Mike Bloomberg Is Worth $49 Billion, Much More Than Most People Thought\|first=Edmund\|last=Lee\|date=January 26, 2016\|publisher=recode.net }}</ref> for a reported $4.43{{nbsp}}billion, valuing Bloomberg L.P. at approximately $22.5{{nbsp}}billion.<ref name="The New York Times">{{cite news \|first1=Michael J. \|last1=de la Merced \|last2=Story \|first2=Louise \|url=https://www.nytimes.com/2008/07/17/business/17broker.html\|title=Bloomberg Expected to Buy Merrill's Stake in His Firm\|date=July 17, 2008 \|work=[[The New York Times]] \|access-date=October 26, 2011}}</ref><ref name="reuters.com">{{cite news\|url=https://www.reuters.com/article/us-merrill-results/merrill-posts-4-9-billion-loss-sells-bloomberg-stake-idUSWNAB118720080718\|title=Merrill posts $4.9 billion loss, sells Bloomberg stake\|date=July 18, 2008\|publisher=Reuters\|access-date=October 26, 2011}}</ref> Bloomberg L.P. has remained a private company since its founding;, the majority of which is owned by billionaire Michael Bloomberg.<ref name="The New York Times" /> To run for the position of [[Mayor of New York]] against [[Democratic Party (United States)\|Democrat]] [[Mark Green (New York politician)\|Mark Green]] in 2001, Bloomberg gave up his position of CEO and appointed Lex Fenwick as CEO in his stead.<ref name="Leadership – Lex Fenwick">{{cite web\|url=http://www.dowjones.com/djcom/leadership/LFenwick.asp \|title=Leadership – Lex Fenwick \|publisher=Dow Jones \|access-date=April 11, 2013 \|url-status=dead \|archive-url=https://web.archive.org/web/20131202221539/http://www.dowjones.com/djcom/leadership/LFenwick.asp \|archive-date=December 2, 2013 \|df=mdy }}</ref> in 2012, [[Peter Grauer]] became the chairman of the company, a role he still holds.<ref name="Bloomberg">{{cite news\|url=https://www.bloomberg.com/pressroom/chairman/\|title=Chairman – Chairman of Bloomberg L.P.\|publisher=Bloomberg L.P.\|access-date=April 11, 2013}}</ref> In 2008, Fenwick became the CEO of Bloomberg Ventures, a new venture capital division and [[Daniel Doctoroff]], former deputy mayor in the Bloomberg administration, was named president and CEO, serving until September 2014.<ref name="mediadecoder.blogs.nytimes.com">{{cite news\|url=http://mediadecoder.blogs.nytimes.com/2011/07/12/doctoroff-named-chief-executive-of-bloomberg-lp/\|title=Doctoroff Named Chief Executive of Bloomberg L.P.\|last=Stelter\|first=Brian\|date=July 12, 2011\|work=The New York Times\|access-date=December 20, 2011}}</ref><ref>{{Cite news\|url=https://www.nytimes.com/2014/09/04/business/media/michael-bloomberg-to-return-as-chief-of-company-he-founded.html\|title=Michael Bloomberg to Return to Lead Bloomberg L.P.\|last=Sorkin\|first=Andrew Ross\|date=2014-09-03\|work=The New York Times\|access-date=2019-11-07\|language=en-US\|issn=0362-4331}}</ref> At that point, it was announced that Michael Bloomberg would be taking the reins of his eponymous market data company from Doctoroff, who was chief executive of Bloomberg for the past six years after his term as deputy mayor.<ref name="Financial Times">{{cite news\|url=http://www.ft.com/cms/s/0/08ae1f42-33ce-11e4-ba62-00144feabdc0.html/ \|archive-url=https://ghostarchive.org/archive/20221210/http://www.ft.com/cms/s/0/08ae1f42-33ce-11e4-ba62-00144feabdc0.html/ \|archive-date=December 10, 2022\|title=Bloomberg to take helm at data group\|work=Financial Times\|date=September 4, 2014 \|access-date=September 4, 2014 \|url-access=subscription}}</ref> In May 2022, Bloomberg announced it would launch a new venture in the UK, Bloomberg UK, as part of a wider international strategy. Bloomberg UK plans to hire in the region and has launched a standalone website, a weekly video series, a podcast and new event series.<ref>{{Cite web \|last=Silvera \|first=Ian \|title=Why people really pay for news \|url=https://www.news-future.com/p/why-people-really-pay-for-news \|access-date=2022-05-13 \|website=www.news-future.com}}</ref>

Bloomberg L.P.: Difference between revisions