NEW YORK, Sept 29 (Reuters) – McGraw-Hill Cos Inc MHP.N is leaning toward promoting its money-dropping BusinessWeek magazine to Bloomberg LP, although another bidder might nonetheless make a better supply, a person aware of the matter said.
The journal will proceed to be a weekly print publication, rechristened Bloomberg BusinessWeek. Decisions haven’t been made about BusinessWeek’s employees of more than four hundred people; Bloomberg will choose which of these employees it desires by the tip of the year, when the deal closes. Those not chosen will obtain severance from McGraw-Hill, mentioned a BusinessWeek govt. Private equity companies OpenGate Capital and Platinum Equity are a part of the bidding, as is ZelnickMedia, the investment firm owned by Take Two Interactive Software Inc Chairman Strauss Zelnick. Tyrangiel, 37, will report back to Bloomberg’s chief content material officer Norm Pearlstine, who knew Tyrangiel from Time Warner Inc’s ( TWX.N ) Time journal, where … Read more