Andy Lack, last seen running Sony BMG music, has popped back up with a new gig: He’s running multimedia at Bloomberg. Per the release, that means he’ll be means he’ll be running the data service’s “television, interactive and radio operations”:
Lack will work closely with Bloomberg News Founder and Editor-in-Chief Matthew Winkler and Chief Content Officer Norman Pearlstine. He will report to Doctoroff, as do Winkler and Pearlstine. “This incredibly powerful team will lead our global journalistic efforts,” [Bloomberg President Dan] Doctoroff said. “Bloomberg – unburdened by outdated business models – has the opportunity to redefine the 21st century news organisation, fully integrating our wire service, television, online, radio and mobile operations.”
,,,The multimedia group Lack will head was created in July following a major reorganization of Bloomberg L.P., known internally as “Plan B.” Winkler will continue to head the news group. It includes the wire service, which informs nearly 300,000 professional investors, BLOOMBERG MARKETS® magazine, and BLOOMBERG PRESS® books for investment professionals. Pearlstine serves as the liaison between the news and multimedia groups, defining the relationship between them and leveraging content across all the Company’s platforms.
Bloomberg’s core business, of course, is selling data to traders at a very high price, but that’s going to be a much harder task for the next few years (at least). So it will be interesting to see what Lack can do with the rest of the operations. He had a rough ride at Sony BMG, where he eventually lost a power struggle between Sony and Bertelsmann and got pushed out of his CEO role, but in retrospect it’s hard to say he did worse than anybody else who tackled music in the last few years. And he has solid news credentials from his many years at NBC. But both of those companies have vastly different cultures than the always-on, grind-it-out one that pervades at Bloomberg.
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