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Article: McGraw-Hill puts "BusinessWeek' up for sale.
- Article from:
- BtoB
- Article date:
- July 20, 2009
- Author:
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: SEAN CALLAHAN
McGraw-Hill Cos. last week announced it's putting BusinessWeek on the block.
What's next, George Steinbrenner selling the New York Yankees?
McGraw-Hill confirmed that "it is exploring strategic options'' for the magazine, which is said to have lost $75 million last year and about $20 million so far this year.
McGraw-Hill tapped investment bank Evercore Partners to handle a possible sale, and some observers believe the powerful brand will sell for close to nothing.
Although it had been rumored that McGraw-Hill was mulling the sale of its flagship publication, which debuted in 1929, the news still shocked ...