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FRIDAY, NOVEMBER 27, 2009
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Bloomberg Gets BusinessWeek for $5M

Financial-news giant founded by current NYC mayor promises it won't gut mag

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(Newser) – Financial-news giant Bloomberg is the winning bidder for BusinessWeek, acquiring the 80-year-old magazine for between $2 and $5 million from parent McGraw-Hill, plus any liabilities associated with the purchase—not exactly a princely sum. “We are not buying BusinessWeek to gut it. We are buying it to build it,” a Bloomberg exec said in a statement.

Pick up your issue on newsstands now.
Pick up your issue on newsstands now.   (PRNewsFoto)
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rocketrocketusa
Oct 14, 09 12:49 AM CDT
Business...week. Business...week. Reply
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oldgoat
Oct 14, 09 6:03 AM CDT
Does anybody really believe that he won't gut it? If I worked there I'd be out checking for other openings. Reply
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mergers and acquisitions • publishing • BusinessWeek • McGraw-Hill • Bloomberg LP • financial data

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