McGraw Hill puts BusinessWeek magazine up for sale

BusinessWeek magazine is apparently being sold. According to a report by Bloomberg News, the parent company the McGraw-Hill has hired an investment bank Evercore Partners Inc. to handle the sale, which was apparently prompted by continued erosion of advertising. The magazine had $43.9 million in ad revenue in the 2nd quarter, down 30 percent from the same period a year ago; ad pages were down 34%.

BusinessWeek was founded in 1929 and has about 4.8 million readers weekly in 140 countries.