Bloomberg BNA, formerly known as The Bureau of National Affairs, Inc. and BNA, is a wholly owned subsidiary of Bloomberg L.P. and a source of legal, tax, regulatory, and business information for professionals. It is headquartered in Arlington, Virginia.[2] The company's CEO and president is Gregory C. McCaffery.

BNA was founded in 1929 by David Lawrence[3] and became employee-owned in 1946. When it was acquired by Bloomberg in September 2011,[4] it was the oldest employee-owned company in the United States.[5]

History

BNA was founded in 1929 by newsman David Lawrence as a subsidiary of United States Daily, now known as the US News & World Report.[6] BNA's first publication was U.S. Patent, Trademark & Copyright Reports (now United States Patent Quarterly).[3] In 1946, Lawrence sold BNA to five of his top editors: Dean Dinwoodey, John D. Stewart, Ed Donnell, Adolph Magidson and John Tyler.[7] The editors opened up ownership to the rest of their BNA colleagues and from 1947 until 2011, the company was owned entirely by current and former employees.[5]

On August 25, 2011, Bloomberg L.P announced it would be purchasing BNA for an estimated $990 million.[4] The transaction closed in late September 2011 at which time Bloomberg paid $39.50 a share in cash through a tender offer to BNA's employee-owners. Bloomberg purchased BNA to bolster its existing Bloomberg Government, Bloomberg Law and Bloomberg News services.[8]

Timeline

1926 - Publisher David Lawrence launches United States Daily.

1929 - U.S. Patent, Trademark & Copyright Reports; BNA’s first publication launched March 4 (today called United States Patents Quarterly).

1933 - United States Daily folds in the aftermath of President Franklin Roosevelt’s "bank holiday;" converts into a weekly. The United States News - Law Journal launched (later changed to U.S. Law Week).

1941 - Daily Report on Price and Production Controls begins in April; it is the only privately produced publication to receive an unlimited allocation of paper during World War II.

1957 - The National Labor Relations Board certifies the American Newspaper Guild as the bargaining agent for BNA employees (BNA employees are now covered by the Washington-Baltimore Newspaper Guild).

2007 - BNA moves to Arlington, Virginia.

2011 - Bloomberg L.P. announces intent to purchase BNA for an estimated $990 million.

Offerings

Bloomberg BNA produces more than 350 news publications in a broad array of topics.[9] The company offers solutions to practitioners in the areas of law, tax and accounting, human resources and payroll, and environment, health and safety. The company's network of more than 2,500 reporters, correspondents, and leading practitioners performed practical analysis, news, practice tools, and guidance.[10] Information compiled by Bloomberg BNA's editors and reporters is available to Bloomberg Government and Bloomberg Law subscribers.

Corporate awards

BNA was named one of the "100 Best Companies to Work For" by Fortune in 1990, 1998 and 2000.[11][12] In 1990, BNA was selected by Working Mother magazine as one of the "100 Best Companies for Working Mothers,” an award it would also receive the next eight years.[13] In 1999, BNA was listed by The Washingtonian magazine as one of the "Best Companies to Work for in Washington”.[13] BNA was given the Business Ethics Award for Employee Ownership by Corporate Responsibility magazine in 2000.[14]

Notable publications