BusinessWeek
Encyclopedia
Bloomberg Businessweek, commonly and formerly known as BusinessWeek, is a weekly business magazine published by Bloomberg L.P.
It is currently headquartered in New York City
.
, Malcolm Muir
stated, "The Business Week always has a point of view, and usually a strong opinion, both of which it does not hesitate to express. And all the way through, we hope you will discover it is possible to write sanely and intelligently of business without being pompous or ponderous."
Initially, the magazine published sections that included topics such as marketing, labor, finance, and management, among others. Consequently, Businessweek pioneered the action of covering national political issues that directly impacted the business world. In 1950, the magazine published its first executive pay survey, which it still does today.
Stephen B. Shepard
served as the editor in chief
of the magazine from 1984 until 2005, when he was chosen to be the founding dean of the CUNY Graduate School of Journalism
. Stephen J. Adler
of The Wall Street Journal
was named to succeed Shepard as editor in chief at Businessweek.
Like nearly all magazines, Businessweek suffered from a decline in advertising during the late-2000s recession. Print revenues halved, to US$60 million, between 2006 and 2009, and online revenues only grew marginally, to $20.5 million. 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.
In late 2009, Bloomberg L.P.
bought the magazine — for a reported $2 million to $5 million plus assumption of liabilities — and renamed it Bloomberg BusinessWeek. Adler resigned as editor-in-chief and was replaced by Josh Tyrangiel
, who had been deputy managing editor for Time Magazine. In early 2010, the magazine title was restyled Bloomberg Businessweek (with a lowercase "w") as part of a redesign.
, both published on a bi-weekly basis.
During the 1990s, Businessweeks advertising campaign expanded, creating efforts to try to solicit new readers from outside the business world. The magazine's then-editor in chief, Steven B. Shepard, helped implement an international edition of the magazine, expanding global reach and interest, and helped to report new and emerging business trends, such as the notion of the New Economy
. Weekly readership of Businessweek is over 4.8 million, in 140 different countries. In 2011 Businessweek's ad revenue went up 65.3% in comparison to the previous year.
MBA
programs. In 2006, it also started publishing annual rankings of undergraduate
business programs.
issued by McGraw-Hill
stated that it had decided to deliver a single global edition instead of providing separate regional ones. However, in 2011 a Polish edition, named Bloomberg Businessweek Polska, will be re-launched after a 6-year break.
There is also an Arabic edition launched in October 2005 by InfoPro Management sarl (InfoPro), a publishing and market research company based in Beirut, Lebanon and The McGraw Hill Companies, Inc.
version of the magazine available as an iTunes subscription for $2.99 a month.
Bloomberg L.P.
Bloomberg L.P. is an American privately held financial software, media, and data company. Bloomberg makes up one third of the $16 billion global financial data market with estimated revenue of $6.9 billion. Bloomberg L.P...
It is currently headquartered in New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
.
History
Businessweek was first published in September 1929, only weeks before the Stock Market Crash of 1929. Its original purpose was to provide information and opinions as to what was happening in the business world, at the time. The president of McGraw-Hill PublishingMcGraw-Hill
The McGraw-Hill Companies, Inc., is a publicly traded corporation headquartered in Rockefeller Center in New York City. Its primary areas of business are financial, education, publishing, broadcasting, and business services...
, Malcolm Muir
Malcolm Muir
Malcolm Muir was a U.S. magazine industrialist. He served as president of McGraw-Hill Publishing from 1928 to 1937. During his tenure as president, he helped create BusinessWeek magazine in 1929, the same year that McGraw-Hill stock was publicly traded for the first time...
stated, "The Business Week always has a point of view, and usually a strong opinion, both of which it does not hesitate to express. And all the way through, we hope you will discover it is possible to write sanely and intelligently of business without being pompous or ponderous."
Initially, the magazine published sections that included topics such as marketing, labor, finance, and management, among others. Consequently, Businessweek pioneered the action of covering national political issues that directly impacted the business world. In 1950, the magazine published its first executive pay survey, which it still does today.
Stephen B. Shepard
Stephen B. Shepard
Stephen B. Shepard is an American business journalist and academic who served as editor-in-chief of BusinessWeek magazine and was the founding dean of the CUNY Graduate School of Journalism...
served as the editor in chief
Editor in chief
An editor-in-chief is a publication's primary editor, having final responsibility for the operations and policies. Additionally, the editor-in-chief is held accountable for delegating tasks to staff members as well as keeping up with the time it takes them to complete their task...
of the magazine from 1984 until 2005, when he was chosen to be the founding dean of the CUNY Graduate School of Journalism
CUNY Graduate School of Journalism
The City University of New York Graduate School of Journalism is a public graduate journalism school located in New York City. One of the 23 institutions comprising the City University of New York, or CUNY, the school opened in 2006...
. Stephen J. Adler
Stephen J. Adler
Stephen J. Adler is currently the Senior Vice President and Editorial Director of the Professional Division of Thomson Reuters. Adler was the Editor in Chief of BusinessWeek from 2005 to 2009 when he joined Thomson Reuters Previously, Adler was Deputy Managing Editor at The Wall Street Journal...
of The Wall Street Journal
The Wall Street Journal
The Wall Street Journal is an American English-language international daily newspaper. It is published in New York City by Dow Jones & Company, a division of News Corporation, along with the Asian and European editions of the Journal....
was named to succeed Shepard as editor in chief at Businessweek.
Like nearly all magazines, Businessweek suffered from a decline in advertising during the late-2000s recession. Print revenues halved, to US$60 million, between 2006 and 2009, and online revenues only grew marginally, to $20.5 million. In July 2009, it was reported that McGraw-Hill was trying to sell Businessweek and had hired Evercore Partners
Evercore Partners
Evercore Partners is an investment bank located in New York City. Evercore also has an investment management business through which the Company manages private equity and venture capital funds for institutional investors...
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.
In late 2009, Bloomberg L.P.
Bloomberg L.P.
Bloomberg L.P. is an American privately held financial software, media, and data company. Bloomberg makes up one third of the $16 billion global financial data market with estimated revenue of $6.9 billion. Bloomberg L.P...
bought the magazine — for a reported $2 million to $5 million plus assumption of liabilities — and renamed it Bloomberg BusinessWeek. Adler resigned as editor-in-chief and was replaced by Josh Tyrangiel
Josh Tyrangiel
Josh Tyrangiel is a journalist, and editor of Bloomberg Businessweek. He joined the magazine following its acquisition by Bloomberg L.P. in December 2009. Prior to joining Bloomberg Businessweek, Tyrangiel was deputy managing editor of TIME magazine and managing editor of TIME.com...
, who had been deputy managing editor for Time Magazine. In early 2010, the magazine title was restyled Bloomberg Businessweek (with a lowercase "w") as part of a redesign.
Competitors
For decades, the magazine's primary competition in the national business magazine category were Forbes Magazine and FortuneFortune (magazine)
Fortune is a global business magazine published by Time Inc. Founded by Henry Luce in 1930, the publishing business, consisting of Time, Life, Fortune, and Sports Illustrated, grew to become Time Warner. In turn, AOL grew as it acquired Time Warner in 2000 when Time Warner was the world's largest...
, both published on a bi-weekly basis.
Advertising
Since 1975, Businessweek has carried more annual advertising pages than any other magazine in the United States.During the 1990s, Businessweeks advertising campaign expanded, creating efforts to try to solicit new readers from outside the business world. The magazine's then-editor in chief, Steven B. Shepard, helped implement an international edition of the magazine, expanding global reach and interest, and helped to report new and emerging business trends, such as the notion of the New Economy
New Economy
The New Economy is a term to describe the result of the transition from a manufacturing-based economy to a service-based economy. This particular use of the term was popular during the Dot-com bubble of the late 1990s...
. Weekly readership of Businessweek is over 4.8 million, in 140 different countries. In 2011 Businessweek's ad revenue went up 65.3% in comparison to the previous year.
College rankings
Since 1988, Businessweek has published annual rankings of United States business schoolBusiness school
A business school is a university-level institution that confers degrees in Business Administration. It teaches topics such as accounting, administration, economics, entrepreneurship, finance, information systems, marketing, organizational behavior, public relations, strategy, human resource...
MBA
Master of Business Administration
The Master of Business Administration is a :master's degree in business administration, which attracts people from a wide range of academic disciplines. The MBA designation originated in the United States, emerging from the late 19th century as the country industrialized and companies sought out...
programs. In 2006, it also started publishing annual rankings of undergraduate
Undergraduate education
Undergraduate education is an education level taken prior to gaining a first degree . Hence, in many subjects in many educational systems, undergraduate education is post-secondary education up to the level of a bachelor's degree, such as in the United States, where a university entry level is...
business programs.
Non-U.S. editions
Businessweek discontinued its European and Asian editions in 2005. A December 7, 2005, press releaseNews release
A press release, news release, media release, press statement or video release is a written or recorded communication directed at members of the news media for the purpose of announcing something ostensibly newsworthy...
issued by McGraw-Hill
McGraw-Hill
The McGraw-Hill Companies, Inc., is a publicly traded corporation headquartered in Rockefeller Center in New York City. Its primary areas of business are financial, education, publishing, broadcasting, and business services...
stated that it had decided to deliver a single global edition instead of providing separate regional ones. However, in 2011 a Polish edition, named Bloomberg Businessweek Polska, will be re-launched after a 6-year break.
There is also an Arabic edition launched in October 2005 by InfoPro Management sarl (InfoPro), a publishing and market research company based in Beirut, Lebanon and The McGraw Hill Companies, Inc.
iPad version
In April 2011, Bloomberg Businessweek launched an iPadIPad
The iPad is a line of tablet computers designed, developed and marketed by Apple Inc., primarily as a platform for audio-visual media including books, periodicals, movies, music, games, and web content. The iPad was introduced on January 27, 2010 by Apple's then-CEO Steve Jobs. Its size and...
version of the magazine available as an iTunes subscription for $2.99 a month.