Bloomberg successful bid for the commercial weekly

Bloomberg successful bid for the commercial weekly

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Guide language: according to xinhua news, businessweek local time, bloomberg news agency said already successful bid for the business magazine. Sources, bloomberg will pay cash million to $5 million.

Bloomberg news says that after the takeover will remain top business magazine, and hope of independent operation through acquisition of business week, to expand its business in the field of financial services. Except for cash and bloomberg, also agreed to take responsibility for business week's debts, as well as personnel dismissal expenses, etc.

Expected this acquisition will end in the President, Mr Bloomberg, said after the completion of the acquisition and business magazine may be renamed the bloomberg commercial weekly.

According to the commercial weekly June offer potential acquirer buys memorandum, the magazine last year, $43 million loss ended on April 30th and 32 million dollars in debt, and already insolvency. But Mr Bloomberg news agency has been regarded as the commercial weekly bidders, the most competitive buyers, but the present, not in the purchase price and there will be many business week will face unemployment. But sources said the purchase price to $2 million in between. Bloomberg said the top, the acquisition of commercial weekly goal is to rebuild it, so instead of eating in financial range will try to keep more employees.

Financial information for the success of the bloomberg giant buy-out, the personage inside course of study says, this is the traditional pattern of big business magazine issued a warning signal shuffle. The international financial crises in the media industry, and new media power of traditional media, has caused enormous impact, industry experts previously had said, has been regarded as the three major financial news magazine "newsweek", fortune and Forbes, at least one out, but now will the commercial weekly verified this sentence.

And reports, in business week started looking for the buyer, Forbes said, it also release news network business director announced his resignation, prompting speculation that has 92 years old magazines may face. At the same time, time warner's age company also said, a history of 79 fortune magazine will be changed. c, well-known magazines CondeNast group has had closed and magazines.

But according to the report, said 15 - added parma on Wall Street investment Banks sent the Gospel of analysts Peter - abbe, for the present situation of the journal of business survival, journal of business competitors many, including Pearson's financial times, the news corporation with the Wall Street journal, and free weekly barron site, such as yahoo "yahoo finance", etc. His image portrayed the dilemma facing business magazine: "the dove from the perspective of millions with you, each pecked a small mouth." you pecked

Currently, Mr Bloomberg's main reader is 30 million subscribers in computer terminals, bloomberg, it also owns cable network, and a radio station in New York and bloomberg market magazine.
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