Google's Cheng to join Bloomberg

The Wall Street Journal reports that a director for product management at Google is leaving the company to join Bloomberg LP.
Ien Cheng will become the Bloomberg multimedia group's chief of staff, a role that will have him overseeing television, radio, Web and mobile properties.
From the story:

Mr. Cheng’s hire signals a continuation of a broader effort by Bloomberg to reduce its reliance on sales of the financial-data “terminals” that account for most of its revenue. The evaporation of thousands of financial-sector jobs in the past year has slowed terminal sales, prompting the company founded by New York City Mayor Michael Bloomberg to focus on making money on the large newsgathering operation that supplies the terminals with news, say people familiar with the situation. Last fall the company hired former Sony BMG Chairman and NBC News President Andrew Lack to run its multimedia business.