Bloomberg LP has won the acquisition bid for BusinessWeek. Bloomberg is the the financial company built by current New York Mayor Michael R. Bloomberg. The terms of the deal are not known, but it is rumored to be worth about $2-$5 million in cash and Bloomberg will be responsible for the liabilities of the news print company. These liabilities may include severance payments.

BusinessWeek employs about 400 people and several of these jobs will be cut. The parent company of BusinessWeek is McGraw-Hill. The news print business as a whole has been suffering as many readers have been turning to the Internet for real-time news. As part of the deal BusinessWeek editor-in-chief Steve Adler announced that benefits will be given to employees for about one year after the deal closes.

“The reporting and analytical resources of Bloomberg and BusinessWeek are unparalleled in their ability to deliver timely, distinctive and credible content to an influential and highly sought-after audience,” stated Bloomberg LP Chairman Peter Grauer. BusinessWeek is Bloomberg’s first major acquisition ever.

Bloomberg and UTV are partnering up to create a new finance channel in India.  The business news channel in India called UTVi will be re-branded as Bloomberg-UTV.  This will give people with a TV in India access to Bloomberg Television as a premium channel.

“The BLOOMBERG TELEVISION network is excited to be joining forces with UTV in providing a business and financial news channel with remarkable breadth and depth of reporting for the Indian market. We will welcome 30 million households in India to Bloomberg’s community of more than 200 million television households, who make up the most affluent and influential audience in the world,” stated Bloomberg Multimedia group CEO Andy Lack. “By working with UTV to realize our shared vision for business and financial television, Bloomberg renews its commitment to delivering business, economic and political news and analysis to viewers in India, and at the same time to delivering news about one of the world’s most dynamic economies to investors across the globe.”

Another result of the partnership announcement is that UTVi.com will be re-branded as bloombergutv.com.  This website will have content powered by Bloomberg too.

Kevin Krim is one of the latest executives to step down from Yahoo! He is leaving the search engine company to join Bloomberg where he will be responsible for the redesign of Bloomberg.com.

One Yahoo! employee claims that Krim was rising star and was going to get a chance at Yahoo! Finance and Yahoo! News. But another employee says the exact opposite: Krim wasn’t a rising star and wasn’t any closer at running Yahoo! Finance.

Before working at Yahoo!, Krim worked for Noe Ventures LLC as a Principal, Livejournal.com as a General Manager, and LookSmart as Vice President.

[via AlleyInsider]

Bloomberg has launched a new service called CEO Spotlight, a video series that revolves around interviewing CEOs of various companies.  Its like nPost, but has a little bit of a personal touch since you can see the interviewer and interviewee’s expressions.  Bloomberg is especially known for their $20,000 computer terminals used by finance industry professionals. 

Below is a screen shot of Bloomberg’s CEO Spotlight web site:

A lot of the content that appears on Bloomgberg CEO Spotlight is already available through the press releases on their site and their TV channel, but this new form of the web site enhances their online property.  And of course, the videos on CEO Spotlight are related to current press releases in the media.  Bloomgberg CEO Spotlight requires Windows Media Player to watch the content. 

Michael Bloomberg founded Bloomberg L.P. in 1981 and is currently serving as the Mayor of New York City.

[Information Source: Mashable]