Jon Fine, who covers the media industry for BusinessWeek, has the statements from the magazine’s parent company and the magazine’s president about exploring a sale of the glossy.
Fine also quotes a Piper Jaffray analyst who notes that any sale of BusinessWeek will result in minimal improvement of McGraw-Hill’s financial performance.
“Given [presumed] current losses and limited near-term prospects for profitability, we believe McGraw-Hill will most likely receive minimal proceeds,” wrote Peter Appert, of Piper Jaffray, in a report that came out this afternoon. “With BusinessWeek magazine accounting for roughly 2% of total [company] revenues and generating a small loss, its potential divestiture would not meaningfully impact the company’s overall financial results.”
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