With the closing of competitor Conde Nast Portfolio, you’d expect that those interested in future performance of BusinessWeek might want to know how it could benefit.
The business weekly has seen nearly a 40 percent decline in advertising revenue during the first quarter. So J.P. Morgan analyst Michael Meltz poses the following question earlier today to Terry McGraw, the CEO of McGraw-Hill, the parent company of BusinessWeek:
“We saw yesterday that Advance is closing Portfolio. Can you talk about BusinessWeek and with pages down this much what are you doing there to kind of stem the losses, I would think it’s on track to lose a good amount of money this year.”
To which McGraw replied: “No comment on that.”
Read the entire transcript here. The conversation begins at the bottom of page 8.
