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==Controversy==
==Controversy==
===Super Micro Computer chip controversy===
On October 4, 2018, Bloomberg's [[Bloomberg Businessweek|''Businessweek'' magazine]] featured an article written by Jordan Robertson and Michael Riley, in which they claimed to have evidence that US companies who were clients of [[Supermicro|Super Micro Computer]] had experienced a series of [[Supply chain attack|supply chain attacks]]. The article claimed that the subsidiary of Super Micro Computer, [[Elemental Technologies]], had implanted a [[Computer chip|chip]] the size of a pencil tip onto their [[Motherboard|motherboards]] that allowed [[Cyberwarfare by China|China to gain access]] to the hardware. It also alleged, based on a quote from a source in the [[Federal government of the United States|US government]], that companies affected by these attacks included [[Amazon (company)|Amazon]] and [[Apple Inc.|Apple]].<ref>{{Cite news|title=The Big Hack: How China Used a Tiny Chip to Infiltrate U.S. Companies|url=https://www.bloomberg.com/news/features/2018-10-04/the-big-hack-how-china-used-a-tiny-chip-to-infiltrate-america-s-top-companies|accessdate=2022-05-21|work=www.bloomberg.com|publisher=[[Bloomberg News|Bloomberg]]|date=October 4, 2018 |language=en}}</ref> The stock price of Super Micro Computer sank by 40% on the day the article was released.

On October 9, 2018, [[Vice (magazine)|VICE]] released an interview with someone who said that he had mentioned the theoretical scenario to one of the authors of the article, Jordan Robertson, more than a year before its release.<ref>{{Cite web|title=The China stealth hacking report just took a major hit — from one of the story's sources|url=https://www.vice.com/en/article/yw9x7x/china-stealth-hacking-story-joe-fitzpatrick|accessdate=2022-05-21|work=www.vice.com|date=October 9, 2018 |publisher=[[Vice (magazine)|Vice]]|language=en}}</ref>

Regarding the report, FBI Director Christopher Wray said<ref>{{Cite news |last=Haselton |first=Todd |date=2018-10-10 |title=FBI director on whether Apple and Amazon servers had Chinese spy chips: 'Be careful what you read' |work=[[CNBC]] |url=https://www.cnbc.com/2018/10/10/fbi-director-wray-on-super-micro-servers-be-careful-what-you-read.html |access-date=2022-11-23}}</ref> in Senate on Oct. 10 "be careful what you read."

Apple's CEO [[Tim Cook]] denied the claim that the company had been affected in an interview with [[BuzzFeed News|Buzzfeed News]], stating: "This did not happen. There's no truth to this."<ref>{{Cite web|title=Apple CEO Tim Cook Is Calling For Bloomberg To Retract Its Chinese Spy Chip Story|url=https://www.buzzfeednews.com/article/johnpaczkowski/apple-tim-cook-bloomberg-retraction/|accessdate=2022-05-21|work=www.buzzfeednews.com|date=October 19, 2018 |publisher=[[BuzzFeed News]]|language=en}}</ref> Apple also released an official statement: "We did not uncover any unusual vulnerabilities in the servers we purchased from Super Micro when we updated the firmware and software according to our standard procedures."<ref>{{Cite web|title=What Businessweek got wrong about Apple |url=https://www.apple.com/newsroom/2018/10/what-businessweek-got-wrong-about-apple/|accessdate=2022-05-21|work=www.apple.com|language=en}}</ref> Apple's denials have also been supported by [[United States Department of Homeland Security|DHS]] and [[GCHQ]].<ref>{{Cite web|title=GCHQ, the UK's equivalent of the NSA, says it believes Apple's denial of spy chip claim|url=https://9to5mac.com/2018/10/05/spy-chip/|accessdate=2022-05-21|work=www.9to5mac.com|date=October 5, 2018 |language=en}}</ref><ref>{{Cite web|title=Super Micro China super spy chip super scandal: US Homeland Security, UK spies back Amazon, Apple denials|url=https://www.theregister.com/2018/10/08/super_micro_us_uk_intelligence/|accessdate=2022-05-21|work=www.theregister.com|language=en}}</ref>

Pinwest, a media company founded in [[Silicon Valley]] and based in [[Beijing]], identified the chip mentioned in the article as a [[balun]]. Pinwest pointed out that its size made it impossible to implement any form of attack; it did not have the storage space required to store commands that would allow a [[hacker]] to infiltrate the hardware. They suggested that Businessweek had underestimated security standards employed by Amazon and Apple.<ref>{{Cite web|title=彭博社曝光的"间谍芯片"，我在淘宝1块钱就能买一个|url=https://www.pingwest.com/a/178013|accessdate=2022-05-21|work=www.pingwest.com|language=zh}}</ref>

Despite providing no further evidence, Bloomberg continued to claim that the article had been verified by its team. It has not been retracted.<ref>{{Cite web|title=Bloomberg stands by Chinese chip story as Apple, Amazon ratchet up denials|url=https://arstechnica.com/tech-policy/2018/10/bloomberg-stands-by-chinese-chip-story-as-apple-amazon-ratchet-up-denials/|accessdate=2022-05-21|work=www.arstechnica.com|date=October 5, 2018 |language=en}}</ref>

===Vinci reporting fine===
===Vinci reporting fine===


Revision as of 12:02, 27 July 2023

This article is about the Bloomberg news agency. For the current parent company, see Bloomberg L.P.

Bloomberg News
FormerlyBloomberg Business News (1990–1997)
Company typeDivision
IndustryNews agency
Founded1990; 34 years ago (1990)
FoundersMichael Bloomberg
Matthew Winkler
Headquarters731 Lexington Avenue, New York City, United States
London, United Kingdom
Hong Kong
Key people
John Micklethwait
(Editor-in-chief)
OwnerMichael Bloomberg (88%) and Bank of America (12%; through Merrill Lynch)
Number of employees
2,300
ParentBloomberg L.P.
Websitewww.bloomberg.com
Footnotes / references
[1]
This article is part of a series about
Michael Bloomberg


Bloomberg News (originally Bloomberg Business News) is an international news agency headquartered in New York City and a division of Bloomberg L.P. Content produced by Bloomberg News is disseminated through Bloomberg Terminals, Bloomberg Television, Bloomberg Radio, Bloomberg Businessweek, Bloomberg Markets, Bloomberg.com, and Bloomberg's mobile platforms. Since 2015, John Micklethwait has served as editor-in-chief.[2]

History

Bloomberg News was founded by Michael Bloomberg and Matthew Winkler in 1990 to deliver financial news reporting to Bloomberg Terminal subscribers.[3]

The agency was established in 1990 with a team of six people.[4] Winkler was first editor-in-chief.[5] In 2010, Bloomberg News included more than 2,300 editors and reporters in 72 countries and 146 news bureaus worldwide.[6][7]

Beginnings (1990–1995)

Bloomberg Business News was created to expand the services offered through the terminals. According to Matthew Winkler, then a writer for The Wall Street Journal, Michael Bloomberg telephoned him in November 1989 and asked, "What would it take to get into the news business?"[8]

In his book, The Bloomberg Way, Winkler recalls a conversation with Bloomberg about a hypothetical ethical dilemma which could have arisen from Bloomberg's interest in creating a newspaper:

"You have just published a story that says the chairman—and I mean chairman—of your biggest customer has taken $5 million from the corporate till. He is with his secretary at a Rio de Janeiro resort, and the secretary's spurned boyfriend calls to tip you off. You get an independent verification that the story is true. Then the phone rings. The customer's public-relations person says, 'Kill the story or we will return all the terminals we currently rent from you.'"

"What would you do?" Winkler asked.

"Go with the story," Bloomberg replied. "Our lawyers will love the fees you generate."[9][10]

Winkler recalls this as his "deciding moment", the time at which he became willing to help Bloomberg build his news organization.[9][10]

The publication was created to provide concise, timely financial news.[11] As a new company in 1990, Bloomberg hoped that the news service would spread the company name, sell more Bloomberg Terminals and end Bloomberg's reliance on the Dow Jones News Services.[3]

The creation of Bloomberg Business News required Winkler to open a Bloomberg office in Washington, D.C., to report about political effects on the business world. However, the Standing Committee of Correspondents (SCC) in Washington required Bloomberg News be formally accredited to act as a legitimate news source, a title that Bloomberg Business News only accomplished after agreeing to provide free terminals to major newspapers in exchange for news space in the publications.[3] During this growth period Bloomberg News opened a small television station in New York, purchased New York radio station WNEW, launched fifteen-minute weekday business news programs for broadcast on PBS, and opened offices in Hong Kong and Frankfurt, Germany.[3]

1995–2000

The initial goal of Bloomberg Business News to increase terminal sales was met by the mid-1990s and the company refocused the scope of its news service to rival the profitability of other media groups such as Reuters and Dow Jones. This led to the creation of Bloomberg's magazine, Bloomberg Personal, in 1995, which was carried in the Sunday edition of 18 U.S. papers.[12] In 1994, Bloomberg launched a 24-hour financial news service through Bloomberg Information Television, which was broadcast on DirecTV. Bloomberg also launched a web site to provide the audio feed of its radio broadcasts.[3] Bloomberg Business News was renamed Bloomberg News in 1997.[citation needed]

2000–2014

In 2009 Bloomberg News and The Washington Post launched a global news service known as The Washington Post News Service with Bloomberg News, to provide economic and political news.[13]

In April 2014, Bloomberg News launched the Bloomberg Luxury lifestyle section of its paper.[14] The section's content covers topics including travel, wine news, dining, auto news, gadgets, technology news, and more. It also highlights content from Bloomberg's quarterly lifestyle and luxury magazine, Pursuits.[citation needed]

Business in China

In 2012, Bloomberg News published investigative series titled "Revolution to Riches," which focused on China's political elite. The series won that year's George Polk Award for International Reporting.[15][16] One story in the series delved into the family wealth of Chinese leader Xi Jinping.[17] However, before publishing the Xi story, Bloomberg executives and senior editors met with Chinese diplomats twice, without informing the journalists working on the story.[18] Zhang Yesui, the Chinese ambassador to the United States, reportedly threatened Bloomberg with consequences for its Chinese operations if it published the story.[18] Bloomberg's editor-in-chief, Matthew Winkler, reportedly refused to stop the story from being published. Then-CEO Daniel Doctoroff also reportedly defended the investigation and insisted on publishing it, although he insisted on changes to soften the story's impact.[18] After the story was published in June 2012, the Chinese government ordered state enterprises not to subscribe to Bloomberg News. The company's website was also blocked on Chinese servers, and it was unable to obtain visas for journalists it wanted to send to China.[19]

The following year, Bloomberg shut down an ongoing investigation into the financial ties between a wealthy Chinese businessman and top Chinese leaders' families. Another planned article "about the children of senior Chinese officials employed by foreign banks" was also killed, according to Bloomberg employees.[20] At least five journalists and editors, including the lead writer on the Xi story,[18] left the company after news reports about the decision appeared.[21] One of the journalists said Bloomberg had disparaged "the team that worked so hard to execute an incredibly demanding story" and claimed it threatened the journalists who worked on the story with legal action if they discussed the incident publicly.[22][23]

Bloomberg's top editors, including the senior editor on the stories, Laurie Hays, and editor-in-chief Matthew Winkler denied that the stories were killed.[20] However, this was contradicted by several anonymous Bloomberg employees. According to one employee, Winkler had said, "If we run the story, we'll be kicked out of China."[20][22] Michael Bloomberg, founder of the company, also denied the accusation, but noted that he had recused himself from the company's operations as he was serving as mayor of New York.[24]

After the incidents, Bloomberg set about trying to repair its relationship with the Chinese government. By 2015, Bloomberg's reporters began receiving visas again.[21] Bloomberg Chairman Peter Grauer told the staff at the Bloomberg Hong Kong bureau that the company's sales team had done a "heroic job" of mending relations with Chinese officials who had indicated their displeasure about the publication of the Xi revelations. He also warned that if Bloomberg "were to do anything like" the Xi story again, the company would "be straight back in the shit-box."[18]

Bloomberg was widely criticized for how it handled the controversy. Howard French, a professor of journalism, wrote that Bloomberg had "tainted its corporate identity and journalism brand to a degree that could last for years."[18]

2015 refocus

In 2015, an internal memo written by editor-in-chief John Micklethwait was leaked to the public. This memo indicated an intent to refocus the agency to better target its core audience, "the clever customer who is short of time", and better achieve the goal of being "the definitive 'chronicle of capitalism.'"[2] This change led to a reduction in reporting on general interest topics in favor of content related to business and economics.[2]

2018 redesign and paywall

In 2018, Micklethwait announced a new digital design for Bloomberg News. Bloomberg uses a metered paywall to charge visitors for content, limiting users to view 10 free articles per month with unlimited re-read option, and 30 minutes of Bloomberg Television watch per day with reset at local midnight time.[25][26]

Michael Bloomberg presidential campaign

In November 2019, as Michael Bloomberg announced his presidential campaign, editor-in-chief John Micklethwait ordered his staff not to investigate their boss, nor any other Democratic candidates, while investigations into Donald Trump would continue, "as the government of the day".[27] Subsequent reporting said Micklethwait was referring to a team of specialized investigative reporters, as opposed to the overall political team, but he would not elaborate or issue a public clarification despite newsroom staff wishing for him to do so. Investigative journalists and political reporters operate separately but reporting indicates this distinction would not be clear to the general public.[28]

Following Bloomberg's announcement, the Houston Chronicle dropped Bloomberg as a source for the 2020 Presidential campaign, saying that "journalists should not choose targets based on their political affiliation."[29] Former Bloomberg News DC Bureau Chief Megan Murphy also criticized the decision, saying it bars "talented reporters and editors from covering massive, crucial aspects of one of the defining elections of our time" and calling the decision to avoid coverage "not journalism".[30] Responding to the controversy, Michael Bloomberg told CBS News: "We just have to learn to live with some things." He added that his reporters "get a paycheck. But with your paycheck comes some restrictions and responsibilities."[31]

Bloomberg suspended his campaign on March 4, 2020, the day after Super Tuesday.

Controversy

Vinci reporting fine

On December 16, 2019, France's financial markets watchdog, the Autorité des marchés financiers (AMF), fined Bloomberg €5,000,000 for a report based on a fake news release that triggered a plunge in the shares of French construction giant Vinci and wiped billions off its market value. The AMF said Bloomberg distributed "information that it should have known was false" and that Bloomberg did not respect journalistic ethics "as no verification of the information was undertaken before publication".[32]

Bloomberg Businessweek

See also: Bloomberg Businessweek

Bloomberg L.P. bought weekly business magazine Businessweek from McGraw-Hill in 2009.[33] The company acquired the magazine to attract general business to its media audience composed primarily of terminal subscribers. Following the acquisition, Businessweek was renamed Bloomberg Businessweek.[34] Bloomberg Businessweek became a part of Bloomberg News after the acquisition from Bloomberg L.P.[35]

Bloomberg Television

See also: Bloomberg Television

Bloomberg Television is a 24-hour financial news television network. It was introduced in 1994 as a subscription service transmitted on satellite television provider DirecTV, 13 hours a day, 7 days a week.[36] In 1995, the network entered the cable television market and by 2000, Bloomberg's 24-hour news programming was being aired to 200 million households.[37] Justin Smith serves as CEO of the Bloomberg Media Group which includes Bloomberg Radio, Bloomberg Television and mobile, online and advertising-supported components of Bloomberg's media offerings.[38]

Bloomberg Markets

See also: Bloomberg Markets

Originally launched in July 1992 under the title Bloomberg: A Magazine for Bloomberg Users, Bloomberg Markets was a monthly magazine given to all Bloomberg Professional Service subscribers.[39] In addition to providing international financial news to industry professionals, the magazine included points for navigating terminal functionality. In 2010, the magazine was redesigned in an effort to update its readership beyond terminal users.[40] Ron Henkoff has served as editor of Bloomberg Markets since 1999[41] and Michael Dukmejian has served as the magazine's publisher since 2009.[42]

Bloomberg Opinion

Bloomberg Opinion, formerly Bloomberg View, is an editorial division of Bloomberg News which launched in May 2011, and provides content from columnists, authors and editors about current news issues.[43] Timothy L. O'Brien, a former New York Times reporter and editor, is senior executive editor of the division.[44]

Bloomberg Editor-in-Chief John Micklethwait admitted in an email to staffers that Michael Bloomberg controls the editorial output of the Opinion section, stating "our editorials have reflected his views".[citation needed]

Bloomberg Politics

Bloomberg Politics provides political coverage via digital, print and broadcast media.[45][46] The multimedia venture, which debuted in October 2014, featured the daily television news program With All Due Respect, hosted by Bloomberg Politics Managing Editors Mark Halperin and John Heilemann.[47] The program came to an end on December 2, 2016.[48][49]

In 2016, Bloomberg Politics produced a documentary on the 2016 US presidential election called The Circus: Inside the Greatest Political Show on Earth.[50]

See also

References

  1. ^ Jack W. Plunkett (2009). Plunkett's E-Commerce and Internet Business Almanac. Plunkett Research, Ltd. p. 209. ISBN 9781593921156.
  2. ^ a b c Julia Greenberg (September 2, 2015). "Bloomberg's Future Is the Future of News for Everyone". Wired. ISSN 1059-1028. Retrieved February 16, 2019.
  3. ^ a b c d e Paul Bodine (2004). Make It New: Essays in the History of American Business. Lincoln, Nebraska: iUniverse. pp. 180–190. ISBN 9780595309214. Retrieved March 15, 2013.
  4. ^ "Bloomberg Solutions". Bloomberg News. Archived from the original on June 24, 2010. Retrieved May 14, 2013.
  5. ^ "Cult of Bloomberg way underpinned by accuracy". The Australian. Retrieved October 26, 2011.
  6. ^ "At A Glance". Bloomberg Press Room. Archived from the original on July 7, 2012. Retrieved March 18, 2013.
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  8. ^ Radcliffe, Damian (January 8, 2020). "In conversation with Matthew Winkler, Editor-in-Chief Emeritus and co-founder of Bloomberg News". Medium. Retrieved February 21, 2020.
  9. ^ a b Matthew Winkler; Jennifer Sondag (2014). The Bloomberg Way. Hoboken, New Jersey: John Wiley & Sons, Inc. pp. xi–xii. ISBN 978-1-118-84226-3.
  10. ^ a b Winkler, Matthew; Sondag, Jennifer (February 20, 2014). The Bloomberg Way: A Guide for Reporters and Editors. John Wiley & Sons. ISBN 978-1-118-84233-1.
  11. ^ Michael Bloomberg (1997). Bloomberg by Bloomberg. New York: John Wiley & Sons, Inc. pp. 79–100. ISBN 0-471-15545-4.
  12. ^ Group, Gale (2011). International Directory of Company Histories Vol. 126 (Casebound ed.). Farmington Hills, Michigan: St. James Press. ISBN 9781558628083. {{cite book}}: |last= has generic name (help)
  13. ^ Carr, David (September 27, 2009). "To Cover World, CBS Joins With a News Site". The New York Times. ISSN 0362-4331. Retrieved February 21, 2020.
  14. ^ "Bloomberg to Build Luxury Online". Women's Wear Daily. April 23, 2014.
  15. ^ "George Polk Awards". Long Island University. February 18, 2013. Retrieved January 26, 2018.
  16. ^ "Revolution to Riches". Bloomberg News. Archived from the original on December 31, 2012. Retrieved July 13, 2014.
  17. ^ "Xi Jinping Millionaire Relations Reveal Fortunes of Elite". Bloomberg News. June 29, 2012. Retrieved November 9, 2014.
  18. ^ a b c d e f Howard W. French (May 1, 2014). "Bloomberg's Folly". Columbia Journalism Review. Retrieved December 7, 2014.
  19. ^ Edward Wong; Christine Haughney (November 17, 2013). "Bloomberg News Suspends Reporter Whose Article on China Was Not Published". The New York Times. ISSN 0362-4331. Retrieved February 16, 2019.
  20. ^ a b c Edward Wong (November 8, 2013). "Bloomberg News Is Said to Curb Articles That Might Anger China". The New York Times. ISSN 0362-4331. Retrieved February 16, 2019.
  21. ^ a b Demick, Barbara (May 5, 2015). "The Times, Bloomberg News, and the Richest Man in China". The New Yorker. ISSN 0028-792X. Retrieved July 25, 2023.
  22. ^ a b Folkenflik, David (April 14, 2020). "Bloomberg News Killed Investigation, Fired Reporter, Then Sought To Silence His Wife". NPR. Retrieved April 15, 2020.
  23. ^ Jim Romenesko (March 24, 2014). "Ben Richardson Quits Bloomberg News Over Handling of Investigative Piece". JimRomenesko.com. Archived from the original on June 2, 2014. Retrieved June 1, 2014.
  24. ^ Ben Sisario (November 12, 2013). "Bloomberg Says News Service Did Not Kill Articles on China". The New York Times. ISSN 0362-4331. Retrieved February 16, 2019.
  25. ^ Benjamin Mullin (May 2, 2018). "Bloomberg's New Paywall Will Charge Users $35 a Month". The Wall Street Journal. ISSN 0099-9660. Retrieved February 16, 2019.
  26. ^ "Bloomberg subscriptions". Bloomberg.com. Bloomberg. Retrieved May 20, 2020.
  27. ^ Hirsch, Lauren; Schwartz, Brian (November 24, 2019). "Bloomberg News will not investigate Mike Bloomberg or his Democratic rivals during primary". CNBC. Retrieved November 26, 2019.
  28. ^ Grynbaum, Michael M. (February 17, 2020). "Bloomberg News's Dilemma: How to Cover a Boss Seeking the Presidency". The New York Times. ISSN 0362-4331. Retrieved February 27, 2020.
  29. ^ Wise, Justin (December 12, 2019). "Houston Chronicle stops using Bloomberg News wire stories for campaign coverage". The Hill.
  30. ^ Murphy, Megan (November 24, 2019). "It is truly staggering that *any* editor would put their name on a memo that bars an army of unbelievably talented reporters and editors from covering massive, crucial aspects of one of the defining elections of our time. Staggering".
  31. ^ "Bloomberg: His news reporters need to accept restrictions". ABC News.
  32. ^ "Fake news report costs Bloomberg $7.6m in fines". The Straits Times. December 17, 2019. Retrieved December 23, 2019.
  33. ^ Stephanie Clifford; David Carr (October 13, 2009). "Bloomberg Buys BusinessWeek From McGraw-Hill". The New York Times. Retrieved March 18, 2013.
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  37. ^ Danny Hakim (September 18, 2000). "Bloomberg Unit To Announce A Cable Deal". The New York Times. Retrieved March 19, 2013.
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  39. ^ Ian Hall (January 17, 2003). "MEDIA: Bloomberg's mag to be launched in the UK high street". BrandRepublic. Retrieved March 19, 2013.
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  41. ^ "MEDIA: Ronald Henkoff". Bloomberg Link. Archived from the original on December 1, 2012. Retrieved March 19, 2013.
  42. ^ Angela Martin (June 24, 2009). "Michael Dukmejian Joins BLOOMBERG MARKETS Magazine As Publisher" (Press release). Reuters. Archived from the original on November 14, 2012. Retrieved March 19, 2013.
  43. ^ "Bloomberg View reveals columnists, editorial board". Politico. Retrieved March 20, 2013.
  44. ^ Chris Roush (July 7, 2022). "O'Brien named editor of Bloomberg Opinion". Talking Biz News. Retrieved January 11, 2023.
  45. ^ "Bloomberg Announces First New Digital-Led, Multi-Platform Brand: Bloomberg Politics" (Press release). Bloomberg News. May 4, 2014. Archived from the original on May 6, 2014. Retrieved September 23, 2014.
  46. ^ Joe Pompeo (August 4, 2014). "Mike Nizza named executive editor of Bloomberg's politics site". Capital New York. Archived from the original on September 9, 2014. Retrieved September 23, 2014.
  47. ^ Hadas Gold (October 5, 2014). "Bloomberg Politics kicks off". Politico. Retrieved October 16, 2014.
  48. ^ Kelsey Sutton; Hadas Gold; Joe Pompeo. "Bloomberg to end 'With All Due Respect' as company reorganizes Bloomberg Politics". Politico. Retrieved March 1, 2017.
  49. ^ Sydney Ember (November 17, 2016). "Bloomberg to End Its Daily Politics Show". The New York Times. ISSN 0362-4331. Retrieved February 16, 2019.
  50. ^ Brian Stelter (December 15, 2015). "Showtime creating weekly documentary series about 2016 election 'circus'". CNN Money. Retrieved January 26, 2018.
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