Bloomberg has signalled an ambition to expand its media operations by recruiting Norm Pearlstine, the former editor-in-chief of the Time Inc magazine empire, to the new role of chief content officer.

Matt Winkler, Bloomberg's editor-in-chief, said he had appointed Mr Pearlstine to find growth opportunities for its television, radio, magazine and online products and "make the most of" the existing news service on Bloomberg's terminals.