"It is going to be focused on the most important news for an intelligent audience around the globe and it's going to be broader in focus than our existing network," The Wall Street Journal quoted Justin Smith, Bloomberg Media's Chief Executive Officer, as saying.
The service is expected to go live later this year.
The service will be made up of live news reporting from the news outlet's bureaus around the world, as well as a curated and verified mix of video posted on Twitter by the social-media platform's users.
To stream tournaments and other e-sports events live, Twitter last month announced its partnership with ESL and Dreamhack -- two of the biggest organisations in the pro-gaming world.
Twitter has more than 15 events locked in for live-streaming this year, including Dreamhack tournaments and future IEM championships.