BusinessWeek Update: There Are Interested Parties
BusinessWeek media columnist Jon Fine has some excellent insight into the progress of the sale of his employer.
According to Fine, OpenGate Capital, the private equity firm that bought TV Guide magazine last year, and Bruce Wasserstein, who picked up New York magazine in 2003, have both shown interest in BusinessWeek, which is currently owned by McGraw-Hill.
Although some financial information was already sent out to interested parties six weeks ago, the magazine’s management is going to be making full presentations soon, starting as early as the end of next week or early August, Fine said.
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