McGraw-Hill leaning toward selling BusinessWeek to Bloomberg

McGraw-Hill appears to be favoring a sale of its money-losing BusinessWeek magazine to Bloomberg L.P., write Anupreeta Das and Robert MacMillan of Reuters.

Das and MacMillan write, “A price for BusinessWeek could not be learned.

“McGraw-Hill considers Bloomberg, a privately held provider of news and financial data, as the best buyer for BusinessWeek because it could capitalize on the marriage of two brand names well known in financial circles, the sources said.

“They spoke on condition of anonymity because the sale process has not been made public.

“Bloomberg owns Bloomberg Markets, a financial news magazine that produces feature stories that often run much longer than the shorter pieces on the Bloomberg newswire.

“That magazine and BusinessWeek could be blended to make a title that would expand Bloomberg’s presence beyond its financial data clients and reach a mainstream online audience.”

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