cover of episode Episode 21: Inside the M&A Press with Bloomberg's Alex Sherman

Episode 21: Inside the M&A Press with Bloomberg's Alex Sherman

2016/9/27
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Ben和David与彭博社科技并购记者Alex Sherman讨论了并购新闻报道的幕后故事。Alex详细介绍了彭博社的商业模式，其核心是向华尔街公司销售终端，媒体业务建立在其之上。并购新闻对终端用户价值巨大，因为这些新闻会影响市场，终端用户比其他人提前15分钟获得新闻。然而，社交媒体和电视的出现削弱了这一优势。Alex解释了彭博社如何通过红色高亮显示来区分新闻的重要性，以及如何根据新闻的细微差别来决定是否使用红色高亮显示。他还强调了彭博社对信息来源的严格要求，即必须来自交易双方的直接参与者，以确保信息的准确性和可靠性。Alex还讨论了新闻报道的署名顺序如何暗示信息来源，以及公司如何利用内部和外部公关资源来管理信息。Alex分享了他如何优先处理新闻线索，以及他如何平衡对重大新闻的报道与对其他新闻的报道。他还讨论了为什么对并购交易的后续报道较少，以及他如何看待新闻、故事和分析之间的平衡。Alex还探讨了媒体和社交媒体的商业模式，以及他如何看待Twitter的未来。最后，Alex给出了关于创业公司如何与媒体建立关系的建议，强调了提供独家信息的重要性。 Alex Sherman详细解释了彭博社的商业模式，以及其媒体业务如何建立在其核心技术业务（终端销售）之上。他强调了并购新闻对终端用户的价值，以及社交媒体和电视如何缩短了彭博社新闻的独家发布期。他深入探讨了彭博社的新闻报道流程，包括信息来源的严格要求、红色高亮显示的使用以及署名顺序的含义。他还分享了他如何优先处理新闻线索，以及他如何平衡对重大新闻的报道与对其他新闻的报道。Alex还讨论了新闻、故事和分析之间的区别，以及为什么新闻报道在大多数情况下比深入分析更占主导地位。他还探讨了媒体和社交媒体商业模式的演变，以及他对Twitter未来发展的一些猜测。最后，Alex就创业公司如何与媒体互动以及与合适的记者建立关系提供了建议。 Ben和David与Alex Sherman讨论了并购新闻报道的各个方面，包括商业模式、信息来源、行业实践以及对创业公司的建议。他们探讨了彭博社如何利用其终端业务来补贴其媒体业务，以及并购新闻对终端用户的价值。他们还讨论了社交媒体和电视对新闻报道的影响，以及彭博社如何应对这一挑战。此外，他们还探讨了新闻报道的准确性、信息来源的可靠性以及公司在并购交易中如何利用内部和外部公关资源。最后，他们还讨论了创业公司如何与媒体建立关系，以及如何向记者提供有价值的信息。

Deep Dive

Chapters
The discussion explores Bloomberg's unique business model, which is heavily reliant on its terminal services, and how this influences its reporting on M&A stories. The chapter delves into the competitive advantage Bloomberg has in breaking news and the ethical considerations that come with it.
  • Bloomberg's core business is its terminal services, which generate significant revenue.
  • The terminal subscribers get news 15 minutes before the general public, creating a competitive edge.
  • Bloomberg's reporters are incentivized to move markets with their stories, making accuracy and sourcing crucial.

Shownotes Transcript

Ben and David go inside the M&A press with Bloomberg’s technology M&A reporter and host of the Deal of the Week Podcast), Alex Sherman). If you’ve ever wondered how stories about big deals get broken or what “according to people familiar with the matter” really means, tune in for the behind-the-scenes scoop!   *Note: A technical glitch with our recording setup created occasional short silences between Alex’s comments and Ben & David’s. It shouldn’t impact listenability, but we apologize for the awkward pauses! *

**Sponsors:**Statsig: https://bit.ly/acquiredstatsig24)Vanta: https://bit.ly/acquiredvanta)Crusoe: https://bit.ly/acquiredcrusoe) Topics covered include: 

  • Bloomberg’s own fascinating “history & facts” and origins following the acquisition of storied Wall Street firm Salomon Brothers 
  • Bloomberg’s core as a highly profitable technology business (selling terminals to Wall Street firms), with a large media empire built on top of it
  • The tradable value of breaking M&A news & information to Bloomberg’s terminal customers, and competing on speed
  • How “sources" work — and industry standard that sources be directly within the companies involved in a deal
  • The coded language of M&A reporting and gleaning where information is coming from based on a story’s structure and phrasing
  • The lifecycle of a story—steps from sourcing to writing to release, and reasons (or lack thereof) for why stories run when they do
  • Internal & external PR resources companies use for M&A 
  • How Alex prioritizes his time researching and creating stories, and who he’s meeting with to hear about what deals are in the works 
  • The difference between ‘news' and ‘analysis', and why news dominates the majority of stories versus deeper analysis
  • Media and social media business models, their evolution in the messenger world, and speculation on Twitter’s future
  • How entrepreneurs can think about interacting with the press and building relationships with the right reporters for their stage and space
  • Apple’s ‘unique’ approach to press relations

 

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