McGraw-Hill Exploring Sale of BusinessWeek Magazine

Authored by Mark Hefflinger on July 13, 2009 - 10:28am.

New York - McGraw-Hill (NYSE: MHP), the publisher of BusinessWeek magazine, has hired the investment bank Evercore Partners to help it explore strategic options, including a possible sale of the 80-year-old publication.

"BusinessWeek is a globally respected brand and one of the world's leading sources of essential and trusted content that informs and inspires business leaders to make smarter decisions in their professional and personal lives," the company said in a statement.

PaidContent reports that Bloomberg and Dow Jones parent News Corp. (NYSE: NWS) are among potential suitors that have been mentioned.

Ad pages and revenue at BusinessWeek, as well as fellow business magazines Forbes and Fortune, have seen precipitous drops this year to date, according to Publishers Information Bureau data.

Earlier this year, Conde Nast opted to shutter its Portfolio business magazine.

Related Links:
http://snipurl.com/n5vn0

http://snipurl.com/n5hov (PaidContent)

http://www.businessweek.com