Bloomberg just bought CityLab and put half its reporters out of a job

Re:Bloomberg just bought CityLab and put half its reporters ... by WheelsAtLarge on Friday December 13, 2019 @08:29PM (#21787182)

It's a shame but I'm sure they are reducing staff with a duplicate function at Bloomberg.

This will continue to happen to publications that cant find a way to finance their operations. Employing a team to publish a publication is expensive so I dought subscriptions alone will be enough to support a team. I think it will have to be a combination of advertising, subscriptions and something else which we still have to define.

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Re:Bloomberg just bought CityLab and put half its reporters ... by asdff on Friday December 13, 2019 @11:44PM (#21787874)

I'm surprised there aren't more nonprofit outlets running entirely off of dividends from an endowment. It's not like you need to run a massive expensive print and distribution operation anymore, or that salaries for journalists are especially high.

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Re:Bloomberg just bought CityLab and put half its reporters ... by cgb223 on Friday December 13, 2019 @08:40PM (#21787217)

I guess the question is how does a larger publication like Bloomberg make money whereas a more specialized one like CityLab struggle?

Maybe the smaller publications can mimic their business model?

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Re:Bloomberg just bought CityLab and put half its reporters ... by thawaway1837 on Friday December 13, 2019 @09:31PM (#21787401)

Bloomberg News likely does not make money (I.e. a profit).

The terminals do and very likely subsidize the news.

If the News side makes money, it’s likely because they get to share all the administrative costs with the terminal side.

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Re:Bloomberg just bought CityLab and put half its reporters ... by cgb223 on Friday December 13, 2019 @09:35PM (#21787414)

What’s a terminal in this context?

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Re:Bloomberg just bought CityLab and put half its reporters ... by bransonf on Friday December 13, 2019 @09:41PM (#21787430)

Probably referring to the Bloomberg Terminal [0] as in the hardware/software product that offers real-time economic data and enables a large portion of the market’s electronic trading.

[0] https://en.m.wikipedia.org/wiki/Bloomberg_Terminal

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Re:Bloomberg just bought CityLab and put half its reporters ... by odyssey7 on Friday December 13, 2019 @09:44PM (#21787439)

It's a computer Bloomberg produces with access to data, news, and tools used by workers in the finance industry. A subscription for one is around $20,000 per year, and there are currently 100,000s of active subscriptions.

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Re:Bloomberg just bought CityLab and put half its reporters ... by formercoder on Friday December 13, 2019 @08:45PM (#21787237)

Economy of scale, fixed costs spread over more reporters, lower cost of capital. It’s cheaper to be big.

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