Bloomberg LP front runner in purchase of BusinessWeek

It looks as though BusinessWeek magazine willsoon be sold by parent McGraw-Hill Cos. Inc. to Bloomberg LP. At least that's what its own senior management is hoping, according to a report from Reuters.

A deal still could take weeks, or could fall apart because of depressed magazine advertising and uncertainty in the financing market; but BusinessWeek executives think that Bloomberg would be the best fit, the source said on Tuesday.

Despite their positive feelings toward Bloomberg, the executives are not dismissing the possibility that another bidder could deliver a superior offer, the source said.

The likelihood is, that if the news and financial data company was successful in taking BW, it would merge it with Bloomberg Markets, a feature financial magazine.