Bloomberg company shuts legal division. Anthony Correia
Many of the 250 journalists on the Law team are expected to be offered posts in National Affairs - but it seems likely that some of them will be laid off. Keith J Kelly, media commentator at the New York Post, says: 'Shutting Bloomberg Law represents a rare retreat for the company, founded by Mayor Mike Bloomberg, which has been trying to diversify its base beyond its core financial news and data business for five years.'
Making inroads into legal research
He added that BloombergLaw was seen as a way to get away from the desktop terminal business 'and make some inroads into the legal research field dominated by Thomson Reuters’ Westlaw and Reed Elsevier’s Lexis/ Nexis.' Only a few days ago, LexisNexis announced the merger of its legal publishing arm, MartindaleHubbell, and Lawyers.com with Internet Brands.