McGraw-Hill CEO declines comment on BusinessWeek's performance
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 itâ€™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.