BusinessWeek
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Bloomberg BusinessWeek, commonly known as BusinessWeek, is a weekly business magazine published since 2009 by Bloomberg L.P.
Contents |
History
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 Review.), when the A.W. Shaw Co. was purchased by McGraw-Hill in 1928
Competitors
Its primary competitors in the national business-magazine category are Fortune and Forbes, which are published bi-weekly.
Advertising
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.
College rankings
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 programs.
Non-U.S. editions
BusinessWeek discontinued its European and Asian editions in 2005. A December 7, 2005, press release issued by McGraw-Hill stated that it had decided to deliver a single global edition instead of providing separate regional ones.
Magazine redesign
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.
Magazine sale
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. In 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 its acquisition of 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." The transaction was completed on on December 1st, 2009, and the new owner added its name to the magazine's title.
See also
References
- ^ FAS-FAX Report. eCirc. Audit Bureau of Circulations. December 31, 2009.
- ^ a b Moses, Lucia. "Bloomberg BusinessWeek Taps Paul Bascobert as President" MediaWeek, 7 December 2009.
- ^ BusinessWeek Press Room
- ^ "Corporate History - Development". McGraw-Hill. http://www.mcgraw-hill.com/aboutus/history_development.shtml. Retrieved August 7, 2007.
- ^ Witzel, Morgen (2005). The Encyclopedia of the History of American Management. Thoemmes Continuum (Bristol United Kingdom). p. 465. ISBN 978-1-84371-131-5.
- ^ http://www.mcgraw-hill.com/aboutus/history_development.shtml 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 0-300-05536-6.
- ^ "BusinessWeek Business School Rankings". BusinessWeek. http://www.businessweek.com/bschools/06/full_time.htm. Retrieved January 23, 2007.
- ^ "Undergrad Rankings 2008". BusinessWeek. http://bwnt.businessweek.com/bschools/undergraduate/08rankings/. Retrieved July 1, 2008.
- ^ Press release
- ^ "What Can We Learn from BusinessWeek". idiomag. October 27, 2009. http://platform.idiomag.com/2009/09/businessweek-what-can-we-learn/. Retrieved October 28, 2009.
- ^ 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"
- ^ http://investor.mcgraw-hill.com/phoenix.zhtml?c=96562&p=irol-newsacquisitions McGraw-Hill company history
External links
- businessweek.com, official website
- businessweek.mobi, official mobile website
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