Bloomberg considering launch of CQ/The Hill competitor
TALKING BIZ NEWS EXCLUSIVE
Bloomberg News is weighing whether to give the OK to a new editorial product internally dubbed “BGov” that would cover the intersection of business and politics and be delivered via a Web site.
The project comes after Bloomberg’s parent company turned down the opportunity to purchase Congressional Quarterly last year, according to insiders. Roll Call Group acquired Congressional Quarterly from the Times Publishing Co.
BGov would provide news and analysis of companies and how they’re interacting with regulatory agencies. One employee said that features on the site would include information such as how much money a company was spending on lobbying and campaign contributions.
If approved, BGov would hire 40 to 50 editorial employees later this year and have a budget of $100 million, say those close to the development of the concept.
Eventually BGov could have hundreds of reporters and editors devoted to covering how federal government agencies and politics interact with corporate America, says one employee briefed on the matter.
The development of this new business model comes amid questions internally about Bloomberg’s coverage out of its Washington bureau, particularly as it relates to politics. Sen. Scott Brown, R-Mass., who recently won election for Ted Kennedy’s seat, was virtually ignored by Bloomberg leading up to the election earlier this month.
On Tuesday, Talking Biz News reported about another new editorial product being launched by Bloomberg called “First Word.”