New York magazine owner drops out of BusinessWeek bidding
Jon Fine of BusinessWeek reports Tuesday that Bruce Wasserstein has decided against making a bid for the business weekly that McGraw-Hill is trying to sell. Fine reports, “A spokesman for Wasserstein declined to comment. Wasserstein, the chairman and CEO of financial giant Lazard, owns the business weekly The Deal and a substantial stake in business […]
BusinessWeek's inner changes
Stphanie Clifford of the New York Times writes Monday about BusinessWeek, where bids are due to acquire it on Tuesday and the magazine has been making changes to address the new media world. Clifford writes, “In February, Mr. Adler and Mr. Fox called editorial employees into a meeting to announce a solution. The magazine would […]
Bloomberg enters bidding for BusinessWeek
Jon Fine of BusinessWeek reports that Bloomberg LP has entered the bidding for the McGraw-Hill owned business news weekly. Fine writes, “The news comes as a surprise, as Bloomberg previously passed on BusinessWeek, following much earlier talks. It is not clear what drew Bloomberg back into the process. Bloomberg’s Chief Content Officer, Norman Pearlstine, did […]
BusinessWeek draws look from 93 parties
BusinessWeek magazine has generated interest from 93 potential buyers, McGraw-Hill Cos. Chairman and CEO Terry McGraw said Tuesday on Bloomberg Television. Caroline Salas and Lauren Coleman-Lochner write, “‘Everybody’s involved,’ McGraw, 61, told Bloomberg Television today. ‘There’s a lot of interest.’ “Parties include private equity, hedge funds and strategic buyers, said McGraw, whose New York-based company […]
Assessing BusinessWeek's online strategy
Ben LaMothe of Econsultancy interviewed BusinessWeek.com editor in chief John Byrne about the business magazine’s philosophy when it comes to online journalism. Here is an excerpt: What is BusinessWeek’s approach to the web? We have one overriding goal: to have the deepest and most meaningful engagement with our audience than any other business site in the […]
BusinessWeek launches BlackBerry app
BusinessWeek announced the launch of an all new mobile application for BlackBerry smartphones. The new app gives BlackBerry users complete access to BusinessWeek.com content including all BusinessWeek.com channels. Users can customize content and create a company watchlist that tracks stock quotes and related stories for selected companies. The app also allows users to share articles via […]
Why does BW staff favor Wasserstein?
Former BusinessWeek staffer Gary Weiss writes Saturday that if the magazine is purchased by Bruce Wasserstein, as favored by the staff members, it poses some interesting conflict issues. Weiss writes, “I’m surprised for two reasons. The first is that one of the active bidders is Joe Mansueto. He has an association with BW dating back […]
Why BusinessWeek might be a smart acquisition
Rory Maher writes for The Business Insider about why BusinessWeek magazine, currently for sale by McGraw-Hill, might be a good purchase for someone. Maher writes, “The BusinessWeek.com site currently attracts almost 5 million U.S. uniques per month while still focusing mostly on its print publication. A good management team focused on the site could likely […]
Another BusinessWeek bidder emerges; staff favors Wasserstein
Jon Fine of BusinessWeek writes that another bidder for BusinessWeek has come forward. Fine reports, “ZelnickMedia, a private equity firm that’s long sought out distressed media assets for turnaround, was one of nine companies that have attended the management presentations offered to interested parties, say executives familiar with the matter. (Those interested parties can now […]
BusinessWeek bidders balking at price
Keith Kelly of the New York Post reports Wednesday that bidders for BusinessWeek magazine think that McGraw-Hill is asking too much for the weekly, and that New York magazine owner Bruce Wasserstein appears to be the frontrunner. Kelly writes, “According to people familiar with the matter, the sale documents, which were prepared by Evercore Partners, […]
