Bloomberg Means Businessweek


Bloomberg LP’s looking to expand its horizons in business media; Businessweek magazine is in deep trouble financially and could use a life-jacket. Sounds like a perfect match, right?

That’s what Bloomberg’s apparently thinking. According to Businessweek’s John Fine, the company has placed a bid to buy the magazine — although he doesn’t know any details about that bid. What he does know is that a Bloomberg bid will probably be tough for anyone to go up against, given that the company makes about $5-billion a year and, in his own words, employs “2,350 journalists — or around 15 percent more than the combined staffs [of] The New York Times and The Wall Street Journal.”

Businessweek, which is owned by McGraw-Hill, is reportedly almost $32-million in debt.