Bloomberg News is clearing house in the wake of a series of embarrassing leaks that revealed the would-be news agency killed stories to win the favor of the Chinese government.
The Post is reporting that journalist Michael Forsythe has been placed on an "unpaid leave of absence" after it was revealed that he was one of the reporters who spoke to the New York Times after the Bloomberg News editor-in-chief killed a story he had been working on for almost a year. Forsythe was escorted out of the Hong Kong office on Thursday.
The story would have run during the same month that the chief executive of Bloomberg (the non-news side of things) is visiting China to strengthen business ties between the media-sensitive country and the financial services company. And while Bloomberg LP might be looking to broaden its business, Bloomberg News is reportedly about to significantly downsize.
According to The Post, between 50 to 100 staffers will soon be laid off from the news company, including several investigative reporters. Apparently, they were bad for business.
[image by Song Cheng]