Business Week is not more the property of McGraw Hill, the firm that has had its ownership for almost a century now. Today the acquisition of the magazine was completed as its ownership came in the hands of Bloomberg. The deal’s financial aspects remain undisclosed but reports put the deal to be valued at a cash vale of around $15 Million, which includes a payment of $5 Million and the rest of the amount in liabilities.
The deal is by no means unfair as each one of them can leverage the other, given that each rules in its own category and are both associated with the business market. As for the name, well that may most probably be changed with the addition of Bloomberg before it.
