Bloomberg News found itself in hot water on Monday after issuing an apology and disciplining several employees for prematurely publishing a story that disclosed a prisoner exchange between the United States and Russia. The premature release involved the freeing of detained American journalist Evan Gershkovich, but the report aired before the actual release of the prisoners.
John Micklethwait, Bloomberg’s editor-in-chief, addressed the situation in a memo to his staff, stating that the company’s ethical standards were breached. He emphasized that while accuracy is paramount, the overriding responsibility is to do the right thing—something Bloomberg failed to uphold in this case.
The disciplinary actions taken by Bloomberg remain undisclosed, and the company did not reveal the number of employees affected. The story had been attributed to Jennifer Jacobs, a senior White House reporter, and Cagan Koc, the bureau chief in Amsterdam.
Micklethwait’s memo insisted, “We take accuracy very seriously. But we also have a responsibility to do the right thing. In this case we didn’t.”
The higher-profile exchange saw not only the release of Wall Street Journal reporter Gershkovich, but also Paul Whelan, a Michigan corporate security executive detained since 2018, and Alsu Kurmasheva, a journalist with dual U.S.-Russia citizenship. In return, the U.S. and other countries released Russians charged or convicted of serious crimes.
Gershkovich’s detention on espionage charges, vigorously denied by his family and employer, garnered significant attention within the journalism community. The Wall Street Journal campaigned ardently for his release. The White House had briefed reporters about the deal under an embargo—an agreement that the information would not be released until officially sanctioned.
Officials were concerned that any public disclosure before the prisoners were securely in U.S. custody could jeopardize the entire deal. Nevertheless, Bloomberg published the story while the transfer plane was still en route to a drop-off point.
The Wall Street Journal released a statement noting, “This was not about a broken embargo. It was a report that Evan had been freed when in fact he had not yet been. We’re happy that Bloomberg corrected it.”
Jennifer Jacobs, responding on X, insisted she adhered to the embargo and neither did anything inconsistent with it nor put anyone’s safety at risk. She emphasized that reporters do not have final control over the timing or headlines of published stories.
“As a journalist, the idea that I would jeopardize the safety of a fellow reporter is deeply upsetting on a level that’s difficult to describe,” Jacobs said. “I am so happy that Evan Gershkovich and the others are home.”
Bloomberg’s initial report surfaced at 7:41 a.m. on Thursday, claiming that Russia was releasing Gershkovich and Whelan as part of a significant prisoner swap based on sources familiar with the details. The story was updated over an hour later to clarify that the prisoners had not yet been released. The White House officially lifted its embargo at 11:33 a.m.
Bloomberg’s premature story intensified the pressure on other news outlets to corroborate the report through alternative sources without breaching the embargo. For instance, the Associated Press issued an alert at 10:41 a.m. stating that Gershkovich and Whelan were being freed, citing Turkish officials.
A Bloomberg editor added fuel to the fire by posting on X that “it is one of the greatest honors of my career to have helped break this news. I love my job and my colleagues,” according to New York magazine. This post sparked criticism among other journalists who were aware of the situation but were restricted from reporting it.
Micklethwait revealed he had apologized to Wall Street Journal editor Emma Tucker on Thursday. “Given the Wall Street Journal’s tireless efforts on their reporter’s behalf, this was clearly their story to lead the way on,” he said. He also mentioned he would personally write an apology to each of the freed prisoners.
Wall Street Journal reporter Dustin Volz, who covers intelligence matters, acknowledged Bloomberg’s apology in a post on X, stating, “Their premature story on Thursday caused a lot of people to panic and could have led to real harm. It didn’t, thankfully, but it’s nice to see them own the mistake.”
