From Wikipedia, the free encyclopedia
BusinessWeek is a weekly business magazine published by Bloomberg L.P.
following the completion of its sale by McGraw-Hill on December 1st, 2009.
It was first published in 1929 (as The Business
Week) under the direction of Malcolm Muir, who was serving as president
of the McGraw-Hill Publishing company at the time. Prior
to 1929, it was titled System, published out of Chicago by Arch W. Shaw, the
first publisher of Harvard Business
the A.W. Shaw Co. was purchased by McGraw-Hill in 1928
Its primary competitors in the national business-magazine
category are Fortune and Forbes, which are published
From 1975, it carried more advertising pages annually than any
magazine in the United States, and in the mid 1990s its
circulation was more than one million worldwide.
Since 1988, BusinessWeek has published annual rankings
of United States business school MBA programs. In
2006, it also started publishing annual rankings of undergraduate business
BusinessWeek discontinued its European and Asian editions in 2005. A December 7, 2005, press
stated that it had decided to deliver a single global edition
instead of providing separate regional ones.
On October 12, 2007, the magazine launched a revamped design,
its first in four years. Several sections were redesigned to focus
the publication more on news and global coverage, while eliminating
the Executive Life section.
Like nearly all magazines, BusinessWeek has suffered
from a decline in advertising during the late-2000s recession. Print
revenues halved, to US$60 million, between 2006 and
2009, and online revenues only grew marginally, to $20.5 million.
July 2009, it was reported that McGraw-Hill was trying to sell
BusinessWeek and had hired Evercore Partners to conduct the
sale. Because of the magazine's liabilities it was suggested that
it might change hands for the nominal price of $1 to an investor
who was willing to incur losses turning the magazine around.
On October 13, 2009, Bloomberg L.P. announced it is acquiring
the magazine for a reported $5 million, although exact figures were
not disclosed. In a
press release accompanying the announcement, Bloomberg chairman
Peter Grauer said, "Together, the BusinessWeek.com and the
Bloomberg.com websites have more unique visitors than any
non-portal business and financial site." It is
not known if Bloomberg plans any major changes to the magazine's
design or editorial staff at this time.
McGraw-Hill company history
"Corporate History -
http://www.mcgraw-hill.com/aboutus/history_development.shtml. Retrieved August 7,
Witzel, Morgen (2005). The Encyclopedia of the History of
American Management. Thoemmes
Continuum (Bristol United Kingdom).
p. 465. ISBN 978-1-84371-131-5.
McGraw-Hill company history
http://www.jstor.org/pss/1247125 article on Arch
W. Shaw in January, 1958 issue (Vol. 22, No. 3) of The Journal of
Marketing, p. 313.
- ^ Jackson, Kenneth T. (1995). The
Encyclopedia of New York City. New York City, New York: The New York
Historical Society; Yale University Press.
p. 172. ISBN
"BusinessWeek Business School
Rankings". BusinessWeek. http://www.businessweek.com/bschools/06/full_time.htm. Retrieved January 23,
2008". BusinessWeek. http://bwnt.businessweek.com/bschools/undergraduate/08rankings/. Retrieved July 1,
"What Can We Learn from
BusinessWeek". idiomag. October 27, 2009. http://platform.idiomag.com/2009/09/businessweek-what-can-we-learn/. Retrieved October 28,
Edgecliffe-Johnson, Andrew (July 13,
2009). "Business Week Sale
May Fetch only $1". http://www.ft.com/cms/s/0/bd68cdc6-6fdc-11de-b835-00144feabdc0.html.
Mashable, "Bloomberg Acquires
BusinessWeek for Less Than $5 Million"
WS Journal Market Watch,
"Bloomberg to Acquire BusinessWeek Magazine"