Low Plaza

Bloomberg Chair Established at Journalism School

By Kim Brockway

Michael Bloomberg

Columbia University's Graduate School of Journalism has established the Bloomberg Chair in Journalism with a gift of $1.5 million from Bloomberg L.P., announced Tom Goldstein, dean of the Journalism School.

"News organizations need reporters and editors trained to understand the big stories in the economy and financial markets," said Goldstein. "The Bloomberg Chair will help us better train our students – the industry's future reporters and editors – and thereby help to raise the level of coverage in this country and around the world. It's great for us and it's great for journalism that Michael Bloomberg has endowed new chairs in journalism here at Columbia and at Baruch, and funded programs at Berkeley in California."

The Bloomberg Chair enhances the School's strong concentration in business journalism, which includes its successful Knight-Bagehot program for mid-career journalists, and will build on its strong links to the Columbia's Graduate School of Business. With its location in New York City, the Journalism School offers its students unparalleled opportunities to witness financial news as it unfolds.

Michael R. Bloomberg, Founder and CEO of Bloomberg L.P., said, "The last few years have seen an incredible rise in the public's interest in business and the financial markets, raising the bar for journalists who cover this complex and dynamic subject. This institution has been increasing the quality of journalism for many years and I expect this grant will allow it produce some exceptional business journalists."

The creation of the Bloomberg Chair follows gifts from AOL Time Warner and the Luce Foundation, the Knight Foundation, and the Times Mirror Corporation, which also established endowed professorships. Earlier major gifts have been received from the Pulitzer family, the Sulzbergers, CBS, and other news organizations and media-related foundations. Recently the School has nearly doubled the amount of scholarship aid available to its students through gifts from media foundations (Scripps Howard, the New York Times, the Philip Graham Fund) and media companies (Bertelsmann, Broadcast News Networks, CBS).

"Our existing programs in business journalism have enabled us to set new, higher standards for the education of business journalists," added Goldstein. "Nearly 50 of the School's graduates currently work as reporters and editors for Bloomberg in bureaus across the United States and in 10 countries across the globe, and thousands more hold important positions at other news organizations. The Bloomberg Chair will help us to build a program in financial reporting of unrivaled depth and excellence, so that we may continue to train reporters and editors to accurately and effectively present complex economic news."

Bloomberg L.P. started Bloomberg News in 1990. Leveraging the data and analysis of the Bloomberg Professional Service, Bloomberg News has grown to more 1,100 reporters and editors in 80 bureaus worldwide, providing economic, business, political and sports stories to leading corporations, financial institutions and newspapers throughout the world. Bloomberg Radio AM 1130 made its first broadcast to the New York City tri-state area in 1993. Broadcast 24 hours a day, Bloomberg Radio's reporters were the first to exclusively use digital equipment and now syndicate their reports to more than 200 radio stations nationwide. Bloomberg Television, consisting of ten networks in seven languages, as well as many national and international affiliates, now reaches 200 million viewers worldwide since its debut in1994.

Published: May 04, 2001
Last modified: Sep 18, 2002

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