Bloomberg News likely does not make money (I.e. a profit).

The terminals do and very likely subsidize the news.

If the News side makes money, it’s likely because they get to share all the administrative costs with the terminal side.

What’s a terminal in this context?

Probably referring to the Bloomberg Terminal [0] as in the hardware/software product that offers real-time economic data and enables a large portion of the market’s electronic trading.

[0] https://en.m.wikipedia.org/wiki/Bloomberg_Terminal

It's a computer Bloomberg produces with access to data, news, and tools used by workers in the finance industry. A subscription for one is around $20,000 per year, and there are currently 100,000s of active subscriptions.

Economy of scale, fixed costs spread over more reporters, lower cost of capital. It’s cheaper to be big.