Bloomberg to Drop Foreign Language Channels…

The Telegraph’s Amanda Andrews writes about Bloomberg TV cutting its foreign language channels…

The strategy shift will result in the elimination of foreign language TV and renewed focus on English-language television broadcast out of New York and London, sources inside Bloomberg told Telegraph.co.uk.

The group currently offers numerous foreign language television services in Europe, Asia and Latin America.

Andrew Lack, a former NBC, CBS and Sony BMG Music executive, told staff in a video message today that the cutbacks were essential to help the broadcast operation become profitable.

Mr Lack, who was hired recently to manage Bloomberg TV and radio, is expected to transform Bloomberg TV into a model similar to CNBC.