Bloomberg Businessweek Warning: You are not logged in. Your IP address will be publicly visible if you make any edits. If you log in or create an account, your edits will be attributed to your username, along with other benefits.Anti-spam check. Do not fill this in! ===Recession and Bloomberg LP acquisition=== ''Businessweek'' suffered a decline in circulation during the [[late-2000s recession]] as advertising revenues fell one-third by the start of 2009 and the magazine's circulation fell to 936,000. In July 2009, it was reported that [[McGraw-Hill]] was trying to sell ''Businessweek'' and had hired [[Evercore Partners]] to conduct the sale.<ref>{{Cite news|url=https://www.reuters.com/article/us-mcgrawhill-businessweek-idUSTRE56C1W020090713|title=McGraw-Hill trying to sell BusinessWeek: source|date=2009-07-13|work=Reuters|access-date=2019-10-29|language=en}}</ref> 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.<ref>{{cite news |title=Business Week sale may fetch only $1 |first=Andrew |last=Edgecliffe-Johnson |date=July 13, 2009 |access-date=April 1, 2013 |url=https://www.ft.com/content/bd68cdc6-6fdc-11de-b835-00144feabdc0 |work=[[Financial Times]]|url-access=subscription}}</ref> In late 2009, [[Bloomberg L.P.]] bought the magazine—reportedly for between $2{{nbsp}}million to $5{{nbsp}}million plus assumption of liabilities—and renamed it ''Bloomberg BusinessWeek''.<ref>{{cite web |title=Bloomberg to take over BusinessWeek |date=October 13, 2009 |access-date=July 22, 2011 |url=http://www.nbcnews.com/id/33299108/ns/business-media_biz/ |agency=[[Associated Press]] |publisher=[[MSNBC]]}}</ref> It is now{{when|date=December 2019}} believed{{by whom|date=December 2019}} McGraw-Hill received the high end of the speculated price, at $5{{nbsp}}million, along with the assumption of debt.<ref>{{Cite news|url=https://www.nytimes.com/2009/10/14/business/media/14bizweek.html|title=Bloomberg Buys BusinessWeek From McGraw-Hill|last1=Clifford|first1=Stephanie|date=2009-10-13|work=The New York Times|access-date=2019-12-04|url-status=live|archive-url=https://web.archive.org/web/20191204060152/https://www.nytimes.com/2009/10/14/business/media/14bizweek.html|archive-date=2019-12-04|last2=Carr|first2=David|language=en-US|issn=0362-4331|quote=Terms of the deal were not disclosed, but the price was said to be near $5 million, plus assumption of liabilities, which were $31.9 million as of April.}}</ref><ref>{{Cite web|url=https://www.businessinsider.com/businessweek-sale-gives-mcgraw-hill-59-million-after-taxes-2009-10|title=BusinessWeek Sale Gives McGraw Hill $5.9 Million After Taxes|last=Yarow|first=Jay|website=Business Insider|access-date=2019-12-04}}</ref> Summary: Please note that all contributions to Christianpedia may be edited, altered, or removed by other contributors. If you do not want your writing to be edited mercilessly, then do not submit it here. You are also promising us that you wrote this yourself, or copied it from a public domain or similar free resource (see Christianpedia:Copyrights for details). Do not submit copyrighted work without permission! Cancel Editing help (opens in new window) Discuss this page