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'BusinessWeek' Execs Want to Sell to Bloomberg

  • Reuters, Tuesday, September 29, 2009 10:07 PM

McGraw-Hill is leaning toward selling money-loser BusinessWeek to Bloomberg. A deal could still fall apart because of depressed advertising and financial industry uncertainties, but BusinessWeek executives think that Bloomberg would be the best fit, say insiders.

McGraw-Hill is open to the possibility that another bidder could deliver a superior offer, but the company considers Bloomberg the best buyer because it could capitalize on the marriage of two well-known financial brands. Bloomberg Markets, a financial news magazine, produces feature stories that often run much longer than pieces on the Bloomberg newswire. That magazine and BusinessWeek could be blended to make a title that would expand Bloomberg's presence beyond its financial data clients and reach a mainstream online audience.

McGraw-Hill has owned 80-year-old BusinessWeek since its inception. It draws nearly 5 million readers weekly to its website.



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