Bloomberg Businessweek

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Bloomberg Businessweek
Bloomberg-businessweek-10-january-2011.jpg
January 10, 2011 cover of
Bloomberg Businessweek
Editor Megan Murphy
Categories Business
Frequency Weekly
Total circulation
(2016)
980,000[1]
First issue September 1929; 87 years ago (1929-09)
Company Bloomberg L.P.
Country United States
Based in New York, NY
Language English
Website www.bloomberg.com/businessweek
ISSN 0007-7135

Bloomberg Businessweek is an American weekly business magazine published by Bloomberg L.P. Businessweek was founded in 1929, the magazine was created to provide information and interpretation about what was happening in the business world.[2] It is headquartered in New York City. Megan Murphy was appointed editor of the magazine in November 2016.

History[edit]

Businessweek was first published in September 1929, weeks before the stock market crash of 1929. The magazine provided information and opinions on what was happening in the business world at the time. Early sections of the magazine included marketing, labor, finance, management and Washington Outlook, which made Businessweek one of the first publications to cover national political issues that directly impacted the business world.[3]

Businessweek was originally published to be a resource for business managers. However, in the 1970s, the magazine shifted its strategy and added consumers outside of the business world.[4] Since 1975, Businessweek has carried more annual advertising pages than any other magazine in the United States.[5]

Stephen B. Shepard served as editor-in-chief from 1984 until 2005 when he was chosen to be the founding dean of the CUNY Graduate School of Journalism. Under Shepard, Businessweek's readership grew to more than six million in the late 1980s.[6] He was succeeded by Stephen J. Adler of The Wall Street Journal.[7]

Bloomberg L.P. acquisition[edit]

Businessweek suffered a decline during the late-2000s recession as advertising revenues fell one-third by the start of 2009 and the magazine's circulation fell to 936,000. In July 2009, it was reported that McGraw-Hill was trying to sell Businessweek and had hired Evercore Partners to conduct the sale. Because of the magazine's liabilities, it was suggested that it might change hands for the nominal price of $1 to an investor who was willing to incur losses turning the magazine around.[8]

In late 2009, Bloomberg L.P. bought the magazine—for a reported price between $2 million to $5 million plus assumption of liabilities—and renamed it Bloomberg BusinessWeek.[9][10] It is now believed McGraw-Hill received the high end of the speculated price, at $5 million, along with the assumption of debt. Currently, the magazine still loses $30 million per year, about half of the $60 million it was reported losing in 2009.[11] Adler resigned as editor-in-chief and was replaced by Josh Tyrangiel, who had been deputy managing editor of Time magazine.[12] In early 2010, the magazine title was restyled Bloomberg Businessweek (with a lowercase "w") as part of a redesign.[13]

Recent history[edit]

Megan Murphy is the third editor of the magazine in the eight years of Bloomberg ownership. The magazine is reportedly losing between $20-$30 million a year.[14] The magazine is to undergo substantial changes in the second quarter of 2017.

Business school rankings[edit]

Since 1988, Businessweek has published annual rankings of United States business school MBA programs.[15] In 2006, it also started publishing annual rankings of undergraduate business programs.[16]

Additional versions[edit]

International editions of Businessweek were available on newsstands in Europe and Asia until 2005 when publication of regional editions was suspended to help increase foreign readership of customized European and Asian versions of Businessweek's website.[17]

At the same time, Businessweek partnered with InfoPro Management, a publishing and market research company based in Beirut, Lebanon, to produce the Arabic version of the magazine in 22 Arab countries.[18]

In 2011, Bloomberg Businessweek continued the magazine's international expansion and announced plans to introduce a Polish-language edition called Bloomberg Businessweek Polska, as well as a Chinese edition which was relaunched in November 2011.[19][20][21]

Bloomberg Businessweek launched an iPad version of the magazine using Apple's subscription billing service in 2011.[22][23] The iPad edition was the first to use this subscription method, which allows one to subscribe via an iTunes account.[24] There are over 100,000 subscribers to the iPad edition of Businessweek.[25]

Honors and awards[edit]

In 2011, Adweek named Bloomberg Businessweek as the top business magazine in the country.[26] In 2012, Bloomberg Businessweek won the general excellence award for general-interest magazines at the National Magazine Awards.[27] Also in 2012, Bloomberg Businessweek editor Josh Tyrangiel was named magazine editor of the year by Ad Age.[28] In 2014, Bloomberg Businessweek won a Society of American Business Editors and Writers Best in Business award for magazines, general excellence.[29]

Name and spelling history[edit]

  • The Business Week (name at founding)
  • Business Week and later BusinessWeek (names under McGraw-Hill ownership)
  • Bloomberg BusinessWeek (initial name under Bloomberg ownership)
  • Bloomberg Businessweek (current name, since 2010)

See also[edit]

References[edit]

  1. ^ "History & Facts". Bloomberg L.P. Retrieved April 27, 2016. 
  2. ^ "McGraw-Hill trying to sell BusinessWeek". Reuters. July 13, 2009. Retrieved July 22, 2011. 
  3. ^ "A historical perspective of Businessweek, sold to Bloomberg". Talking Biz News. Retrieved August 14, 2010. 
  4. ^ "McGraw-Hill trying to sell BusinessWeek". Reuters. July 13, 2009. Retrieved July 22, 2011. 
  5. ^ Jackson, Kenneth T.; Keller, Lisa; Flood, Nancy V., eds. (2010). The Encyclopedia of New York City (2nd ed.). New Haven: Yale University Press; New‑York Historical Society. p. 957. ASIN B0063CU5RW. ISBN 978-0-300-18257-6. LCCN 2010-31294. OCLC 842264684. OL 25891135M. 
  6. ^ Moeller, Philip (July 31, 1988). "Controlling 'insider' information is impossible". Toronto Star. Retrieved July 22, 2011. 
  7. ^ Steinberg, Jacques (December 7, 2004). "BusinessWeek Chooses Outsider as Editor in Chief". The New York Times. Retrieved July 22, 2011. 
  8. ^ Edgecliffe-Johnson, Andrew (July 13, 2009). "Business Week sale may fetch only $1". Financial Times. Retrieved April 1, 2013. 
  9. ^ "Bloomberg to take over BusinessWeek". MSNBC. Associated Press. October 13, 2009. Retrieved July 22, 2011. 
  10. ^ Lowry, Tom (October 13, 2009). "Bloomberg Wins Bidding For BusinessWeek". BusinessWeek. On Media (blog). Retrieved April 13, 2011. 
  11. ^ Bloomberg believes in Businessweek as a model, Shannon Bond, Financial Times, December 2014
  12. ^ Clifford, Stephanie (November 18, 2009). "Deputy at Time Magazine to Be BusinessWeek Editor". The New York Times. p. B3. Retrieved July 22, 2011.  (subscription required)
  13. ^ Klenert, Josh (April 26, 2010). "Bloomberg Businessweek Redesign". Society of Publication Designers. Retrieved April 13, 2011. 
  14. ^ http://www.wsj.com/articles/bloomberg-changes-businessweek-leaders-ends-political-tv-program-1479414097
  15. ^ "BusinessWeek Business School Rankings". BusinessWeek. Archived from the original on June 3, 2007. Retrieved January 23, 2007. 
  16. ^ "Undergrad Rankings 2010". BusinessWeek. Retrieved April 10, 2010. 
  17. ^ "BusinessWeek Announces Repositioning in Global Markets". The McGraw-Hill Companies. Retrieved November 24, 2010. 
  18. ^ "Arabic edition of BusinessWeek hits newstands". The Daily Star. Retrieved July 22, 2011. 
  19. ^ "Business magazines look overseas for growth". BtoB Media Business. Retrieved July 22, 2011. 
  20. ^ "Report: China Magazine Industry Booming". Min Online. Retrieved March 7, 2012. 
  21. ^ Lu Chang (December 17, 2011). "Magazine industry soars". China Daily. Retrieved September 7, 2014. 
  22. ^ https://itunes.apple.com/us/app/bloomberg-businessweek+/id421216878?mt=8
  23. ^ https://www.bloomberg.com/businessweek/subscribe/
  24. ^ "Bloomberg Businesweek Underwhelms With iPad App (Demo)". TechCrunch. Retrieved April 11, 2011. 
  25. ^ "Bloomberg Businessweek to launch first iPhone app". New Media Age. Retrieved March 7, 2012. 
  26. ^ Moses, Lucia (December 5, 2011). "Hot List: Magazines See what magazine brands are taking chances and embracing change". Adweek. Retrieved May 22, 2015. 
  27. ^ Pompeo, Joe (May 4, 2012). "At the often stodgy National Magazine Awards, best disruptor of decorum goes to a 'lucky' guy from Dallas". Capital New York. Retrieved May 22, 2015. 
  28. ^ Dumenco, Simon (October 15, 2012). "Ad Age's Magazine A-List: Josh Tyrangiel Is Editor of the Year". Ad Age. Retrieved May 22, 2015. 
  29. ^ "Best in Business contest results, 2014 contest year". Society of American Business Editors and Writers. Retrieved May 22, 2015. 

External links[edit]