Ovide writes, “A sale remains under negotiation and still could fall apart, according to the people, who said a deal could be struck within days. The situation remains fluid, and it is possible another buyer will surge ahead of Bloomberg, the financial-information company founded by New York Mayor Michael Bloomberg.
“A spokesman for BusinessWeek referred a request for comment to McGraw-Hill. McGraw-Hill said it was ‘very pleased that the process continues to go well.’ A spokeswoman for Bloomberg declined to comment.
“At least one other bidder, private-equity firm ZelnickMedia, remains in the running, according to the people.
“Relatively little money is expected to change hands in any sale. The people said final-stage negotiations have focused less on the purchase price than on whether McGraw-Hill or the new owner would be responsible for paying severance to the BusinessWeek staffers expected to lose their jobs after a sale.”
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