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!
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