Bloomberg CEO committed to media growth

Investment is not a word used a lot in the media industry today but Bloomberg Media Group CEO Andy Lack said the company is committed to expansion across Asia and will launch its Bloomberg Businessweek title in China next week.

The launch is part of a wave of new product launches and partnerships which includes the formation of Bloomberg TV Mongolia, launched in partnership with the Trade & Development Bank of Mongolia.

It also includes the expansion of the bi-weekly Bloomberg Businessweek magazine to China, which launches next week in simplified Chinese.

Lack, in Hong Kong for the annual CASBAA conference today, described Bloomberg as a company committed to investing in its media business.

"There are tremendous opportunities in this region," he said. "Hong Kong has always been a hub for Bloomberg and we are spreading."

Lack described Mongolia as a fast-growing emerging market and said the partnership with the Trade & Development Bank of Mongolia was about tapping fast-developing regions in Asia.