McGraw-Hill Is Probably Really Glad It Dumped BusinessWeek
McGraw-Hill’s latest earnings, released this morning, contain some numbers that shouldn’t really surprise anyone: the company’s Information & Media segment saw first-quarter revenue fall 9.5 percent to $187.5 million. However, excluding BusinessWeek, which was sold to Bloomberg on December 1, 2009, revenue rose by 4.3 percent. Expenses fell nearly 20 percent, and the segment’s profit rose to $27.8 million from $2.7 million.
Bloomberg isn’t a publicly traded company, so we won’t get more than guesses from now on about how BusinessWeek is doing, but we do know that the magazine is much leaner now than it was under McGraw-Hill.
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