Bloomberg L.P. Announces Formation of Bloomberg Media Group

Press Release

Expanded Group Aligns Offerings from TV, Print, Radio and
Digital to Better Serve Consumers and Advertisers –

New York — Bloomberg L.P. announced today the formation of the
Bloomberg Media Group, a unified consumer media group that
brings together Bloomberg’s television, print, radio, mobile and
digital media properties. Under the new structure, the business
operations of Bloomberg Businessweek, Bloomberg Markets
magazine, Bloomberg Television, Bloomberg Radio, Bloomberg.com
and Bloomberg Mobile will join together to create a powerful new
global group with the ability to offer integrated solutions for
advertisers and a more seamless experience for business news
consumers.

Paul Bascobert, President of Bloomberg Businessweek, has been
named Head of Business Operations for the Bloomberg Media Group.
Bascobert will work across business units to help drive strategy
and revenue growth for the Group going forward. Bascobert, who
will continue to serve as President of Bloomberg Businessweek,
will report to Bloomberg Media Group CEO Andy Lack.

“This is an exciting time to announce the formation of the
Bloomberg Media Group and to synthesize all the business units
of Bloomberg’s many consumer-facing platforms,” said Lack. “By
operating under one umbrella, we can better leverage our
resources, drive deeper engagement with our readers and viewers,
and provide the best solutions for advertisers.”

“I’m looking forward to the opportunity to help drive Bloomberg
Media Group’s growth at this critical time in the company’s
history,” said Bascobert. “As Bloomberg continues to reach more
influential business news consumers worldwide, it’s critical
that we deliver the most comprehensive solutions for advertisers
around the world.”

“Today we’re taking the next step in transforming Bloomberg into
a media powerhouse,” said Dan Doctoroff, President of Bloomberg
L.P. “At the core of our business model is the belief that it
starts with great content. Today, by bringing all our consumer
businesses under one roof, we’re creating a more seamless way to
bring that content to market and allow advertisers to engage
with our audience.”

The Bloomberg Media Group leverages the power of one of the
largest newsgathering operations in the world and reaches
millions of global business leaders and news consumers on a
daily basis. Bloomberg Markets magazine is the largest monthly
magazine for the global financial elite, with a circulation of
more than 355,000 and growing. Bloomberg Businessweek magazine
is a market leader with more than 4.6 million readers each week
in 140 countries. Bloomberg Television is available in more than
250 million homes worldwide and in the U.S., Bloomberg Radio is
syndicated to more than 200 radio affiliates. Together,
Bloomberg.com and Businessweek.com reach more than 20 million
individuals each month and Bloomberg Mobile’s industry-leading
application, available on the iPad, iPhone, BlackBerry and Nokia
devices, have been downloaded more than six million times.

About Bloomberg

Bloomberg is the world’s most trusted source of information for
financial professionals and businesses. Bloomberg combines
innovative technology with unmatched analytics, data, news, and
display and distribution capabilities, to deliver critical
information via the Bloomberg Professional service and
multimedia platforms. Bloomberg’s media properties span
television, radio, digital and print, making up one of the
world’s largest news organizations with more than 2,300 news and
multimedia professionals at 146 bureaus in 72 countries.

Contact for Bloomberg:

Jocelyn Austin, +1 212-617-3578, jbaustin@bloomberg.net