BusinessWeek ad sales boost McGraw-Hill profits
A Bloomberg story on McGraw-Hill’s first-quarter earnings notes that the rise was partially attributed to a boost in ad sales at BusinessWeek magazine.
BusinessWeek’s ad revenue rose 2.2 percent in the first three months of the year, compared to a 6.6 percent drop in the same time period in 2006.
Cecile Daurat wrote, “At the information and media services unit, which publishes BusinessWeek, revenue gained 4.1 percent to $235.9 million. Operating profit jumped more than fivefold to $9.9 million.
“McGraw-Hill Cos. earlier this month named Keith Fox as president of the business magazine, replacing William P. Kupper, who will retire following two consecutive years of declining ad sales.”
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The release stated, “Advertising pages for BusinessWeek’s global edition were off 3.0% in the first quarter. BusinessWeek.com continues to improve its performance with increases in both advertising and unique visitors compared with the first quarter of 2006.”