McGraw-Hill Gets Ready To Sell BusinessWeek
PaidContent reports that McGraw-Hill has hired investment bank Evercore Partners to help it sell off BusinessWeek magazine. Potential buyers include Bloomberg and News Corp/Dow Jones, but any buyer would have to be willing to take on the magazine’s losses: it lost $20 million last year and could lose $50 million this year.
Rafat Ali at paidcontent reports:
The key, according to Roland DeSilva, managing partner at media investment bank DeSilva & Phillips (and a former exec at MGH), who I spoke to last week on this, is that MGH would have to move beyond positioning it just against Fortune and Forbes, and look at the full digital spectrum of options covering business and finance.
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