Bloomberg named Andrew Lack Chief Executive Officer of its multimedia group, responsible for the Company’s expanding television, interactive and radio operations.
“Andy Lack is a news legend,” said Bloomberg L.P. President Dan Doctoroff in making the announcement. “His extraordinary accomplishments at NBC and CBS News and his innovative work in the entertainment industry at Sony Corp. qualify him uniquely to lead Bloomberg’s multimedia businesses.”
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,” Doctoroff said. “Bloomberg – unburdened by outdated business models – has the opportunity to redefine the 21st century news organization, fully integrating our wire service, television, online, radio and mobile operations.”
Bloomberg Chairman Peter Grauer said that Lack’s appointment reflects the Company’s commitment to provide “the best, most timely coverage wherever and whenever the customer wants it. These turbulent times create huge demand for our products,” Grauer said. “While other news organizations are shrinking, we continue to expand, improving our existing products while investing in new ones.”
Winkler and Pearlstine praised Lack’s appointment. “I admire Andy’s passion for news and for story telling,” Winkler said. “Together, we shall energize Bloomberg’s 2,300 editorial employees.” Pearlstine, who joined Bloomberg in June after working as editor-in-chief of Time Inc. and managing editor of The Wall Street Journal, said Lack “will be amazed by the quality of the people he inherits. He will meet an immensely talented team that will respond to his leadership.”
Lack said he decided “to return to news – my first love – after I was approached by Bloomberg executives seeking a head for the company’s multimedia group. I am impressed by the Company’s ambitions and its resources; by its desire to develop and advance new ways to serve the consumer; by its continued obsession with maintaining the highest journalistic standards,” he said.
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.
Lack was most recently Chairman of Sony BMG Music Entertainment and previously served as CEO of Sony BMG Music Entertainment, where he oversaw all operations of the global recorded music and video company. Prior to that, he served as Chairman and Chief Executive Officer of Sony Music Entertainment.
Previously, Lack served for two years as President and Chief Operating Officer for NBC. During his tenure with NBC he oversaw Entertainment, News, including MSNBC and CNBC, NBC Stations, Sales, and Broadcast & Network Operations.
From 1993 to 2001, Lack was President of NBC News, where he transformed the News group into the most-watched news organization. During Lack’s tenure, “NBC Nightly News with Tom Brokaw,” “Meet the Press” and “The Today Show” each became No. 1 in its time period.
Before joining NBC, Lack spent much of his television career at CBS News, where he created and served as the executive producer of the groundbreaking newsmagazine “West 57th.” He served as producer for “60 Minutes” and was senior executive producer of the landmark CBS Reports for nearly a decade.
Mr. Lack’s broadcasts at CBS earned numerous honors, including 16 Emmy Awards, four Alfred I. DuPont-Columbia University Journalism Awards, five Ohio State Awards, an Oversees Press Club Award, two Gravel Awards from the American Bar Association, a George Polk Award and a Clarion Award.
Bloomberg’s media services include the global Bloomberg News service; the Bloomberg Television 24-hour business and financial network produced and distributed worldwide on eleven separate channels in seven languages; the Bloomberg.com Web site, which is among the most-frequently visited financial destinations; Bloomberg Radio services, which provide up-to-the-minute news on XM, Sirius and WorldSpace satellite radio around the world and on WBBR 1130AM in New York; the award-winning Bloomberg Markets magazine; and Bloomberg Press books for investment professionals.
The Bloomberg News service is delivered real-time on the Bloomberg Professional service, the fully integrated source of interactive data, news and advanced analytics for professionals around the world. Bloomberg News content is created exclusively by a worldwide network of more than 2,300 Bloomberg professionals in 140 news bureaus who generate more than four million stories plus more than two million additional breaking-news headlines per year in seven languages across multiple media.