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Bloomberg CEO gives $1.66M, professorship

Andy Lack, (CFA'68)

Andy Lack, (CFA'68)

Andrew R. Lack (CFA’68) hopes to find the answer to journalism’s pay wall problem. The Bloomberg Media Group CEO has donated $1.66 million toward a College of Communication professorship dedicated to researching sustainable business models.

Paired with an $833,333 matching gift, COM will put $2.5 million toward the position.

The $833,333 Leventhal gift is part of a challenge-grant program founded by trustee Alan Leventhal (Hon.’09) and his wife, Sherry. The program has helped create 10 professorships, 20 scholarships and four fellowships at 10 schools within the University.

Lack gave the school this gift hoping to find a workable business model to support serious journalism in the internet era, COM Dean Thomas Fiedler (’71) said.

“It comes from Andy’s concern that accountability journalism—the kind of journalism that the First Amendment’s free-press clause is intended to protect—is endangered by the collapse of the old business models that supported newspapers and TV news until the internet era,” Fiedler said. “The Lack Professor will oversee research and develop courses that may envision and incubate these new business models.”

For the full story, visit BU Today’s article.

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