To hear Bloomberg Media CEO Justin Smith tell it, the linear TV business is facing a ticking time bomb. While he acknowledges that cable news channels (including Bloomberg TV) still have “valuable audiences,” young executives at many global companies don’t necessarily get their news from TV — or even pay for cable. “That ship has largely sailed for the next generation,” Smith tells The Hollywood Reporter in an interview. “The shift in consumption in business information, financial information and more general quality news information has decisively moved away from linear television to digital and largely social mobile platforms.” Bloomberg is hoping to get ahead of linear TV’s decline, relaunching its QuickTake video service on Nov.
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