While I was not overly impressed with the newly launched online New York Times new company research function, I’ve been more impressed with its new blog-like financial news reporting service called DealBook, edited by Andrew Ross Sorkin. Sorkin has been the Times’ chief mergers and acquisitions reporter since July 2000.

The service is kind of a “best of” what’s out there being reported in the areas of M&A, venture capital, investment banking, hedge funds and so on. DealBook provides breaking news, as well as analysis, from selected publications, ranging from the Globe and Mail, Guardian, Bloomberg, Times of London, L.A. Times, Business Week, and many others.

For example, in today’s blog there were these lead stories for these key topic areas:

M & A: Nasdaq-L.S.E., Schering, Google
INVESTMENT BANKING: Citigroup, Deutsche Bank
I.P.O.S/OFFERINGS: Hyatt, Standard Broadcasting
VENTURE CAPITAL: Greenfuel, Angioscore
PRIVATE EQUITY: GTCR Golder Rauner, Sun Capital
LEGAL: Enron, MySpace.com, Six Flags

There’s lots of good features: you can browse stories by industry, see a “bankruptcy index” and view some pretty cool charts on deals “in play”. You can even get this delivered to you the old fashioned way, in your email box. Yeah, there are ads you have to put up with but the content and presentation seem first rate. It’s all here except for the famous blogger “snark”

Nice job, NY Times!

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