BusinessWeek Magazine :BusinessWeek Magazine online Read the latest international business news & stock market news. Get updated company profiles, financial advice, global economy and technology news.BUSINESS WEEK Magazine ABOUT BUSINESSWEEKBusinessWeek magazine features in-depth perspectives on the financial markets, industries and people guiding the economy. BusinessWeek magazine's timely analysis will help you make better decisions about career, business and personal investments.
Business, business news, stock market, stock market news, financial advice, company profiles, financial advice, global economy, technology news
Like nearly all magazines, BusinessWeek has suffered from a decline in advertising during the late-2000s recession. Print revenues halved, to US$60 million, between 2006 and 2009, and online revenues only grew marginally, to $20.5 million. In July 2009, it was reported that McGraw-Hill was trying to sell BusinessWeek and had hired Evercore Partners to conduct the sale. Because of the magazine's liabilities it was suggested that it might change hands for the nominal price of $1 to an investor who was willing to incur losses turning the magazine around.
On October 13, 2009, Bloomberg L.P. announced its acquisition of the magazine for a reported $5 million, although exact figures were not disclosed. In a press release accompanying the announcement, Bloomberg chairman Peter Grauer said, "Together, the BusinessWeek.com and the Bloomberg.com websites have more unique visitors than any non-portal business and financial site." The transaction was completed on on December 1st, 2009,and the new owner added its name to the magazine's title.Link www.businessweek.com
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