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Mondo Times editors
Boulder Colorado USA | Posted at 7:12am on Friday, November 20th, 2009 | Bloomberg Cuts 130 Positions At BusinessWeek
Business Insider reported on November 19, 2009:
"So far, the names we've seen via Twitter are pretty big.
* Steve Baker, a technology writer, and veteran of 23 years. We've heard he wanted to leave anyway.
* Jon Fine, the great media writer -- on sabbatical with his wife, Laurel Touby -- is out. Makes sense, he's a hot shot of sorts and wouldn't fit with Bloomberg. (In our opinion, anyway.)
* Stephen Wildstrom, the personal tech columnist. He seems to have been caught off guard."
The full story:
http://www.businessinsider.com/bloomberg-cuts-some-big-name-reporters-from-the-businessweek-2009-11
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Mondo Times editors
Boulder Colorado USA | Posted at 1:20pm on Tuesday, November 17th, 2009 | Time Magazine Editor Takes Over Helm at Business Week
BusinessWeek magazine announced on November 17, 2009:
Time deputy managing editor Josh Tyrangiel, a deputy managing editor at Time magazine and the top editor of its online operations, will become the first editor of a Bloomberg-owned BusinessWeek. The acquisition, announced October 13, is expected to close in early December.
He replaces editor Stephen Adler, who said in October that he would resign when the Bloomberg acquisition was completed.
By selecting the 37-year-old Tyrangiel who is not a business journalist per se, Bloomberg clearly wants a leader for BusinessWeek who is not only a highly-regarded editor but someone who has demonstrated he knows how to reach a wider array of readers in both print and online. A major reason Bloomberg LP executives pursued BusinessWeek was to reach a broader audience beyond Wall Street and the professional investor communities.
Tyrangiel will report to Norman Pearlstine, Bloomberg’s chief content officer and a former editor-in-chief of Time Inc. Pearlstine reports on editorial matters to Matthew Winkler, Bloomberg’s editor-in-chief.
Tyrangiel will work alongside BusinessWeek executive editors Ellen Pollock and John Byrne and managing editor Ciro Scotti. Pearlstine announced earlier that they would continue in their roles at the magazine.
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Mondo Times editors
Boulder, Colorado USA | Posted at 11:37pm on Sunday, November 1st, 2009 | The editor-in-chief of BusinessWeek, Stephen Adler, will resign, the magazine reported on October 20, 2009:
"Stephen J. Adler, who has been editor-in-chief of BusinessWeek for more than four years, will resign from his post once the sale of the magazine to Bloomberg LP is completed, as anticipated, in early December.
Adler informed his staff of his plans in a memo Tuesday night. He declined to comment beyond what he wrote in the memo (see full memo below). On Oct. 13, BusinessWeek’s parent McGraw-Hill Cos. announced it was selling the magazine to Bloomberg after a months-long sales process.
Adler’s resignation eliminates any question as to whether he would continue on under Bloomberg’s ownership and gives Bloomberg’s chief content officer, Norman Pearlstine, the opportunity to hand pick his own candidate for BusinessWeek’s top editorial job. Adler and Pearlstine, who will become chairman of BusinessWeek, were once colleagues at The Wall Street Journal. It is rare that the top editor of a magazine that is acquired stays on in that role."
The full story:
http://www.businessweek.com/innovate/FineOnMedia/archives/2009/10/adler_to_resign.html
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Mondo Times editors
Boulder, Colorado USA | Posted at 12:24pm on Tuesday, October 20th, 2009 | Bloomberg L.P., a leading provider of news and information for financial professionals, will purchase BusinessWeek magazine from The McGraw-Hill Companies, Inc. Bloomberg made the announcement on October 13, 2009. Terms of the agreement were not disclosed.
"The BusinessWeek acquisition will yield huge benefits for users of the Bloomberg terminal, and for our television, online and mobile properties," said Daniel L. Doctoroff, president of Bloomberg L.P.
"Although Bloomberg has built one of the world's largest news organizations with more than 2,200 journalists, our primary audience has been our 300,000 Bloomberg Professional® service subscribers. They rely on us for high-value, market-moving news and insightful analysis.
"BusinessWeek helps better serve our customers by reaching into the corporate suite and corridors of power in government, where news that affects markets and business is made by CEOs, CFOs, deal lawyers, bankers and government officials who typically are not terminal customers," Doctoroff noted.
Matthew Winkler, Editor-in-Chief of Bloomberg News said, "BusinessWeek, with its extraordinary context and perspective on the economy and companies, presents a giant opportunity for the Bloomberg News® service to reach decision makers in the most important industries. We are thrilled to have such experienced journalists as our colleagues.''
To facilitate integration of the two news organizations, Norman Pearlstine will become Chairman of BusinessWeek. Pearlstine, Bloomberg's Chief Content Officer, joined Bloomberg last year, building on a distinguished career as Managing Editor of The Wall Street Journal and Editor in Chief of Time Inc. "Norm's role will ensure that we fully capitalize on the combined strengths of Bloomberg and BusinessWeek," Winkler said.
"Bloomberg looks forward to becoming steward of the great BusinessWeek franchise that McGraw-Hill has built over the past 80 years," said Pearlstine. "We are uniquely positioned to preserve and build the market presence of BusinessWeek. Our shared values and complementary resources give us the editorial and technological expertise, data, analysis and depth of reporting to create a new model for the business weekly."
BusinessWeek magazine, founded in 1929, is the market leader among business periodicals with more than 4.8 million readers each week in 140 countries, local language editions in Chinese, Thai and Bahasa Indonesian and licensees in 15 countries. Bloomberg is a leading source of essential breaking news stories, market coverage, investigative and enterprise reporting on global financial markets and the businesses, governments and individuals that rely on them.
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Mondo Times editors
Boulder, Colorado USA | Posted at 6:33pm on Saturday, August 29th, 2009 | BusinessWeek has launched a new mobile application for BlackBerry smartphones. The new app gives BlackBerry users complete access to BusinessWeek.com content including all BusinessWeek.com channels. Users can customize content and create a company watchlist which tracks stock quotes and related stories for selected companies. The app also allows users to share articles via email and Twitter.
Roger Neal, SVP and general manager of BusinessWeek.com said, "Our new BlackBerry app allows readers to access all BusinessWeek.com content and market data on their handhelds and customize it to reflect the topics that are most important to them."
"With an average of 10 million unique visitors per month, BusinessWeek.com delivers indispensable news and analysis to its audience," said John A. Byrne, editor-in-chief of BusinessWeek.com.
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Mondo Times editors
Boulder, Colorado USA | Posted at 5:47pm on Sunday, July 26th, 2009 | Bidders for BusinessWeek are coming forward, Jon Fine reported in the magazine on July 23, 2009.
He wrote that financial information provided to prospective buyers shows that "BusinessWeek lost around $20 million on revenues of $147 million in 2008, and that slightly smaller losses are projected in 2009 on revenue of around $135 million. These losses do not, however, include key corporate overhead items, such as rent and certain infrastructure-related costs. When all those items are factored in, the total loss figure essentially doubles."
The full story:
http://www.businessweek.com/bwdaily/dnflash/content/jul2009/db20090723_350469.htm
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Mondo Times editors
Boulder, Colorado USA | Posted at 11:26pm on Wednesday, July 22nd, 2009 | The sale of Business Week magazine may fetch just one dollar, according to Andrew Edgecliffe-Johnson, writing in the Financial Times on July 13, 2009. He quotes a financial analyst as saying that the magazine could lose $10 to $20 million this year:
McGraw-Hill could reap just $1 from a sale of Business Week, according to people familiar with the 80-year-old financial magazine’s losses.
The publisher has appointed Evercore, the boutique investment bank, to sell the business after concluding it was non-core, two people familiar with the decision said.
McGraw-Hill, which owns the Standard & Poor’s rating agency and a large educational publisher, would only say it was “exploring strategic options” for Business Week. Evercore did not return calls.
Auctioning a predominantly print business exposed to financial advertisers during a media recession will be challenging.
According to the Publishers’ Information Bureau, Business Week’s advertising revenues fell by a third to $77.8m in the first half of 2009. The magazine says its circulation is 936,000.
Bankers said it was unlikely that Time Inc, publisher of Fortune, or Forbes would bid. Condé Nast closed Portfolio, a business glossy, in April."
The full story:
http://www.ft.com/cms/s/0/bd68cdc6-6fdc-11de-b835-00144feabdc0.html
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Mondo Times editors
Boulder, Colorado USA | Posted at 10:54pm on Wednesday, July 22nd, 2009 | The McGraw-Hill Companies announced on July 13, 2009 that it is looking for a buyer for BusinessWeek magazine. In corporate legalese, the company said it is "exploring strategic options."
The company press release says: "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."
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Eric Kallgren
Boulder Colorado USA | Posted at 10:21pm on Wednesday, May 20th, 2009 | Jon Fine demonstrates his comprehension of basic math and distaste for airlines in "Newspapers: Less Liked Than Airlines?" published by BusinessWeek on May 19, 2009:
"The American Customer Satisfaction Index--ACSI from here on down--tracks customer satisfaction across a wide range of industries and has done so since 1994. Each quarter it surveys consumers to come up with what they call a “satisfaction index” by assigning scores to key business sectors, and in many cases companies within these sectors, on a scale of 1 to 100.
The first quarter ’09 Satisfaction Index data is out and can be seen in its entirety here. How did newspapers do?
Not good. In fact, really not good. In the first quarter of '09, newspaper customers’ satisfaction rating was 63. To put this in some perspective, those surveyed expressed a greater deal of satisfaction with airlines (airlines!) which scored 64. And cell phone providers (cell phone providers?) which score a 69."
The full story:
http://www.businessweek.com/innovate/FineOnMedia/archives/2009/05/newspapers_less.html
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Eric Kallgren
Boulder Colorado USA | Posted at 2:42pm on Wednesday, May 20th, 2009 | The Federal Trade Commission wants bloggers to disclose when they get cash or freebies from companies they cover, Douglas MacMillan of BusinessWeek reported on May 19, 2009:
The Federal Trade Commission "is expected to issue new advertising guidelines that will require bloggers to disclose when they're writing about a sponsor's product and voicing opinions that aren't their own. The new FTC guidelines say that blog authors should disclose when they're being compensated by an advertiser to discuss a product."
The full story:
http://www.businessweek.com/technology/content/may2009/tc20090518_532031.htm
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