Marketwatch.com media columnist Jon Friedman writes Tuesday about the pain being endured at McGraw-Hill from its ownership of struggling BusinessWeek.
Friedman writes, “Sure, the McGraw-Hill weekly financial-news magazine and Web site have a strong reputation. But McGraw-Hill put them on the block a few weeks ago, in a sign that the profit-fixated company may eventually want to stick to surer bets, such as its Standard & Poor’s entity.
“In good times, S&P essentially prints money, and McGraw-Hill’s textbook operation is an integral part of the business. Meanwhile BusinessWeek, like most major magazines, has been blindsided by the depth of the publishing industry’s prolonged advertising slump.
OLD Media Moves
The pain from BusinessWeek
July 28, 2009
Marketwatch.com media columnist Jon Friedman writes Tuesday about the pain being endured at McGraw-Hill from its ownership of struggling BusinessWeek.
Friedman writes, “Sure, the McGraw-Hill weekly financial-news magazine and Web site have a strong reputation. But McGraw-Hill put them on the block a few weeks ago, in a sign that the profit-fixated company may eventually want to stick to surer bets, such as its Standard & Poor’s entity.
“In good times, S&P essentially prints money, and McGraw-Hill’s textbook operation is an integral part of the business. Meanwhile BusinessWeek, like most major magazines, has been blindsided by the depth of the publishing industry’s prolonged advertising slump.
“McGraw-Hill has several options, none of which will bring smiles to the faces of worried BusinessWeek staffers. Indeed, it can try hard to find a buyer and unload its magazine foundation. Or McGraw-Hill can be adventurous (this is not a company well known for being daring) and make BusinessWeek an wholly online product. Worst of all, McGraw-Hill can ultimately do what Condé Nast did with Portfolio: kill it.”
Read more here.
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