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Bloomberg TV says good night to 'Night Talk'

Additional staff cuts and programming changes are expected as part of a restructuring of Bloomberg News' multimedia group.

February 04, 2009|Meg James

Financial news network Bloomberg Television on Tuesday pulled the plug on its "Night Talk" program and said goodbye to longtime anchor Mike Schneider. His final program was Monday night.

Additional staff cuts and TV programming changes were expected today. The moves are part of a restructuring of Bloomberg News' multimedia group, which includes Bloomberg Television and Bloomberg Radio, said a person familiar with the matter who did not want to be identified because of the sensitivity of the situation.

The private company, founded by New York Mayor Michael R. Bloomberg, generates $6 billion a year in revenue. Bloomberg News has expanded aggressively in recent years and until now has avoided the cutbacks that have plagued other news organizations.

Schneider's exit follows that of Bloomberg Television Managing Editor John Meehan, who left the company last week.

Meehan's departure comes four months after Andrew Lack, a former NBC, CBS and Sony BMG Music executive, was hired to manage Bloomberg TV and radio and shake up the operations.

Bloomberg Television operates 24 hours a day and has channels in 11 countries, but some company executives believe that its sprawling networks lack cohesion and do not make full use of its reporters in 143 bureaus around the world.

Although the company plans to eliminate programs and trim employees, it plans to hire additional staff later this year to position the company for growth, the person familiar with the situation said.

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meg.james@latimes.com

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