Bloomberg CEO Challenges News Startup

"Achieving the Dream of Unbiased Journalism"

Justin Smith. Source: Getty Images

[Asia Economy Reporter Cho Hyun-ui] Justin Smith, CEO of Bloomberg Media Group in the United States since 2013 (photo), is leaving the company to start a news startup.

On the 4th (local time), Smith posted on Twitter, "After spending over eight years at Bloomberg Media Group, I have decided to pursue a personal dream," and announced, "I will launch a new global news media aiming for unbiased journalism."

The editor-in-chief of this startup, tentatively named ‘Project Coda,’ will be Ben Smith, former editor-in-chief of BuzzFeed and columnist for The New York Times (NYT).

This startup plans to introduce various platforms such as digital publishing, email newsletters, podcasts, and digital video. Its main revenue sources will be digital subscriptions, advertising, and events.

David Bradley, chairman of Atlantic Media, told The Wall Street Journal (WSJ), "Justin Smith plans to secure substantial funding for the new company," and expressed his own intention to invest. The American media outlet Deadline reported, "Bradley is currently the most likely financial backer."

Before becoming CEO of Bloomberg Media Group, Justin Smith served as president of Atlantic Media, successfully shifting the company’s core business from print to digital media.

Meanwhile, Scott Havens, current Chief Growth Officer, will become the new CEO of Bloomberg Media Group. Justin Smith will serve as an advisor to Bloomberg for the time being to facilitate the transition.

This content was produced with the assistance of AI translation services.