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RSS FeedBloomberg Buys BusinessWeek Magazine
Bloomberg, the privately owned business information group has agreed to acquire the ailing BusinessWeek magazine from McGrawHill.
According to some sources, Bloomberg is paying between $2m and $5m although it will assume some debt in the process. Like many other business magazines, BusinessWeek has been losing money over the past few years. Last year alone it lost $43m.
Bloomberg will rename the magazine Bloomberg BusinessWeek and it will join Bloomberg's growing media network of online and offline businesses which employ over 2,200 staff.
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