Media company Bloomberg enters the Hungarian market

The media company of the world’s 21^st wealthiest man will soon set foot in Hungary in partnership with a local Hungarian news magazine. The owner of the magazine has already officially confirmed the news.

After tensions of the past month in the Hungarian media concerning a social media site and Klubradio have calmed down, some new happenings are shaking up the sector again.

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Bloomberg, one of the world’s most known media brands specialised in business and finance, software and data, is coming to Hungary. The company was founded in 1981 by Michael Rubens Bloomberg, who built

one of the most important and most reliable information sources for business and finances all around the word.

After establishing his empire, Michael Bloomberg also had a very successful political career, including being mayor of New York for 12 years. In 2019 he even announced to run for president under the Democrats’ flag. However, he decided to support Joe Biden instead, both financially and by asking his supporters and followers to stand behind the new president. Furthermore, he is a huge philanthropic; he has spent over 5 billion dollars from his wealth on charities and their goals, including the fight against climate change and education. His current wealth is around 59 billion dollars, writes Forbes.hu.

Michael Bloomberg – Wikipedia

According to Media1, Bloomberg has been preparing for months in secret to enter the Hungarian market. With the help of head-hunter agencies and mediators, the company had previously been conducting negotiations with several journalists of certain relevant magazines, such as HVG and 24.hu, under strict non-disclosure agreements. Finally, they

reached an agreement with news magazine 168 óra and its website.

Thus the presence of the media giant will have two elements. Firstly, certain content of Bloomberg will be published in Hungarian. Secondly, the Hungarian partner, 168 óra, will create their own Hungarian content under the Bloomberg brand name.

The cooperation does not stop at solely publishing articles, as Bloomberg has solid digital bases. Their channel, Bloomberg TV, focusing on business and capital market programming, is accessible via satellite. This means that some of their video content will also be available in English.

According to sources,

some Hungarian content will already be available over the course of this week.

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Source: Media1