Entertainment media can make money, but the style is low. But the financial media is different, the earning power is not bad, and it is high!

New Globe Group must have a higher structure, and it is indispensable to have a financial media business.

After News Corp. owns television satellites, television stations, movies, publishing houses, newspapers, online media and other businesses, the last business that is lacking is financial media.

To this end, Murdoch did not hesitate to launch an acquisition from Dow Jones & Co. at a very high premium.

Don was also very impressed.

However, he has no plans to buy a newspaper like The Wall Street Journal.

Brandi Norris is the Chief Financial Officer of New Globe and hails from Wall Street.

At the high-level meeting, after hearing Tang En mention that New Global's next new business exploration will be locked in the financial media, he immediately showed strong interest.

After the meeting, Brandi Norris came to Donn's office with great interest and took the initiative to report: "Boss, I have a copy of the Dow Jones Group's revenue statement for the past year, you can take a look." ”

According to the annual report, in the past year, Dow Jones Group's "Wall Street Journal", "Barron's" and other media businesses for individual investors reached $950 million, with a gross profit of only $28 million, and a gross profit margin of less than 3%.

The smaller corporate media business, including Dow Jones News and Dow, has a revenue of less than $400 million, but a gross profit of $100 million!

Brandi Norris said: "As things stand, the Wall Street Journal and the Financial Times are probably the only two newspapers in the world that can charge for their online editions. However, this is not commendable, and the data shows that the enterprise-level media business is more profitable!"

Tang En held the pen in his hand, circled the data on the report, and said, "That's true." At a time when free financial information is flooding the Internet, timely and mature financial data, with institutional traders as the main customers, will increasingly become a lucrative market. ”

"So, we can move away from the financial media business for individual investors and focus on corporate clients. ”

"Brandy, looks like you have an idea?"

"That's true. ”

Tang En stretched out his hand, "Tell me about it." ”

Brandi Norris said: "News Corp. is now worth more than $70 billion, but New Globe is valued at $170 billion! I'm sure that Murdoch's acquisition of Dow Jones & Co. was not because of the sales of the Wall Street Journal, because that business really didn't make much money, but because of the Dow Jones & Co. corporate media business. It's a pity that over the past few years, Dow Jones has been controlled by a good news family, not a good capital power. Murdoch will certainly bid the Dow Jones at a significant premium because he is confident that the company's business will be as great as its contents. We don't have to, though. ”

"Oh?"

"We have abundant cash flow, abundant promotion channels, and more ambitious market potential. We could have gone with a corporate-oriented financial media outlet! Murdoch can't take it, but we can!"

Enterprise-grade financial media?

Don had almost guessed his answer, narrowing his eyes, "You mean...... Bloomberg?"

Brandi Norris said without hesitation: "It is said that the Associated Press, Reuters and AFP are the three major news agencies in the world. However, in terms of influence in the financial sector, these three combined, are not as good as Bloomberg!"

"Bloomberg ......," Donn twitched the corners of his mouth, "can we eat?"

Brandi Norris said firmly, "I think it can!"

"Bloomberg is privately held. ”

But in the course of Bloomberg's development, it has raised funds twice. Mr. Bloomberg is now the mayor of New York, and it appears that his interests are shifting from business to politics. ”

(Note: Very painful translation.) "Bloomberg" and "Bloomberg" are actually the same word. The translation of Hong Kong and Taiwan is very concise, and it is uniformly called Bloomberg. ）

"Bloomberg's valuation is not low. ”

"It's relatively high, but New Universal has the ability to eat it. ”

Donn pondered for a long time, thinking for a moment, "Give me more material about Bloomberg and Bloomberg himself." ”

Brandi Norris's face was overjoyed: "I'll prepare!"

He is very bullish on Bloomberg's potential.

As things stand, Bloomberg doesn't seem to be as strong as News Corp. But it won't be long before News Corp., even Time Warner is probably no match for Bloomberg!

This is a real industry giant.

Now, Michael Bloomberg himself is in politics and has become mayor of New York.

Gave Bloomberg Social to the deputy management.

However, his deputy was okay with execution, and his decision-making was a little worse. As a result, Bloomberg's performance growth has slowed down rapidly in the past two years.

Michael Bloomberg has been subjected to very strict supervision because he has entered politics and has to sever management relations with enterprises, otherwise there is a risk of collusion between officials and businessmen.

He can't make decisions for Bloomberg.

In this case, if New Globe succeeds in acquiring Bloomberg, then Bloomberg is at the helm...... It doesn't have to be him, Brandi Norris!

Compared with being the CFO of New Globe Group, it is more attractive to be the CEO of Bloomberg.

The former's upward channel has been sealed, and creative companies almost never promote CFO as CEO.

The latter still has a bright upside, and once he takes charge of Bloomberg, he may not be able to go further and become the CEO of New Global Group!

……

Soon, Donn got a detailed copy of Bloomberg.

Unlike the Wall Street Journal, a direct-to-user newspaper, Bloomberg does not own a newspaper, and its media revenue is mainly news subscription revenue for governments, corporations and financial institutions, plus some news resales and financial television stations.

In the past year, Bloomberg's revenue was $6.8 billion.

Among them, the revenue of Bloomberg terminals accounts for a full 84%!

The Bloomberg terminal is a computer-like machine, which is the general platform and auxiliary trading platform for all Bloomberg output information services, and is a set of computer systems that allow professionals to access the software and hardware of "Bloomberg Professional Services".

Bloomberg Professional Services allows users to access and analyze real-time financial market data and conduct financial transactions.

Bloomberg terminals are not sold, only rented!

Annual rent ...... $20,000!

Currently, there are 285,000 Bloomberg terminal users worldwide, and this rent alone can cost Bloomberg $5.7 billion!

Every investment bank and every financial institution on Wall Street is bound to be a loyal user of the Bloomberg terminal.

In this market, Bloomberg Terminal has no rival and occupies 99% of the market!

Monopoly!

Monopoly is wealth!

As the financial market becomes more and more open, especially the rise of financial markets in populous countries such as China and India, the demand for Bloomberg terminals will only increase.

It can be seen that Bloomberg's future performance growth will be very gratifying.

However, if New Globe wants to buy Bloomberg, the trouble is also in the Bloomberg terminal.

Last year, Bloomberg's net profit was $750 million.

According to the market in the United States, the average price-to-earnings ratio of media companies is 15.

By that standard, Bloomberg is valued at $11.2 billion.

But the media business accounts for only a small part of Bloomberg, and the main source of revenue is the Bloomberg terminal.

Bloomberg Terminal is a technology product, and the average price-to-earnings ratio of technology companies is 30!

By this standard, Bloomberg's valuation would have reached $22.5 billion!

And that's not all.

The Bloomberg terminal connects financial institutions around the world through the Internet, which can facilitate the exchange of information between investment banks and financial institutions around the world and learn about the latest financial developments.

The Bloomberg terminal even comes with a chat app called "Bloomberg IB".

From this point of view, this is the Internet enterprise.

The average price-to-earnings ratio of Internet companies ...... Up to 50!

By this standard, Bloomberg's valuation would have reached $37.5 billion!

Of course, the core content of Bloomberg is financial services and news communication, and the so-called Bloomberg terminal does not have too much high-tech content.

The market valuation given by BusinessWeek is between $15 billion and $18 billion.

Either way, it's a Big Mac.

Even if New Global is rich and rich, it is difficult to eat it completely.

Once not handled well, it can cause indigestion.

Just like Donn's ambition to buy Twentieth Century Fox.

To acquire a company of this size, New Globe had to go public. There is no possibility of a successful acquisition before going public.

However, after reading more material about Bloomberg, Don became more and more interested in the company.

In particular, I have great admiration for Michael Bloomberg, the founder of Bloomberg.

This guy is really a talent, he kills the four major fields of technology, communications, media, and finance, and even played politics a few years ago and became the mayor of New York.

Such a talent may not be without the possibility of becoming president in the future.

If New Globe acquires Bloomberg, Michael Bloomberg will become a significant shareholder of New Globe, and the chain of interests can be tied together.

Very exciting!

Donn called Brandi Norris again, "Do you have a terminal there?"

"I don't have it here, I don't need this machine for my job. Brandi Norris replied, and immediately said, "But Fernando has one there, and he's been in charge of communicating with Wall Street investment banks." ”

The working platform of Wall Street financiers is not a personal computer, but a Bloomberg terminal, and the online chat software can only be IB. If others want to communicate with them on the Internet, they can only use the Bloomberg terminal, which is closed and confidential.

Don nodded, "Okay, I'll go over and see what this Bloomberg terminal is!"

The fastest update URL for the mobile version: