A Historical Perspective of BusinessWeek, Sold to Bloomberg
BusinessWeek magazine, which was founded in 1929, just weeks before the October stock market crash that led to the Great Depression, has been sold to Bloomberg LP. Bloomberg staff members were told of the deal this afternoon. When founded, the magazine had 14 staffers. That number grew to more than 600, but in recent weeks had been down around 400.
Unlike Forbes, which at the time was the only major competitor in the business magazine field, BusinessWeek paid more attention to the economy of the country. One of the biggest indicators of its interest in the economy was a thermometer that appeared on the cover of the magazine for decades, from the 1930s to 1961, that gauged the temperature of the American economy.
The magazine was formed to provide interpretation to what was happening in the changing business world, said Malcolm Muir, president of McGraw-Hill at the time. He 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.”...
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Unlike Forbes, which at the time was the only major competitor in the business magazine field, BusinessWeek paid more attention to the economy of the country. One of the biggest indicators of its interest in the economy was a thermometer that appeared on the cover of the magazine for decades, from the 1930s to 1961, that gauged the temperature of the American economy.
The magazine was formed to provide interpretation to what was happening in the changing business world, said Malcolm Muir, president of McGraw-Hill at the time. He 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.”...