Jon Friedman of Marketwatch.com reports that the Bloomberg Press unit of Bloomberg LP will be closed once the company completes its acquisition of BusinessWeek magazine.
Friedman writes, “The division published a handful of titles a year and had eight staffers. Bloomberg hopes to place the employees elsewhere in its company.
“Bloomberg is going through a transition of sorts. It acquired BusinessWeek from McGraw-Hill and expects to spend enough money to make BusinessWeek successful.
“One of Bloomberg’s objectives is to increase its stature and profile on Main Street. It already is a powerhouse in Wall Street trading rooms. Its array of data and news is deemed invaluable by Wall Street professionals and the company wants to broaden its readership beyond securities and money-management professionals.”
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Bloomberg Press publishes books for financial professionals as well as books of general interest on investing, economics, current affairs, and policy affecting sophisticated investors. More than 140 titles have been released since 1996. The books are written by leading practitioners and authorities, including Bloomberg News reporters and columnists, and are published in more than 20 languages.
