Pulse2 Technology and Social Media News » BusinessWeek

Bloomberg Acquires Energy News Publisher

Amit Chowdhry — Fri, 11 Dec 2009 00:01:00 +0000

Bloomberg has bought out New Energy Finance, a United Kingdom based company that publishes news about carbon and clean power. This acquisition has taken place shortly after the finance publication company bought out BusinessWeek.

“This acquisition is the next step in Bloomberg’s initiative to develop and promote the carbon and clean energy markets,” stated Bloomberg Chairman Peter T. Grauer. “Carbon and clean energy issues touch every segment of the global economy, and are of increasing importance to our customers. Bloomberg’s vision is to be the leader in information, analytics and trading architectures to support low-carbon energy solutions.”

Bloomberg Wins Acquisition Bid For BusinessWeek

Amit Chowdhry — Wed, 14 Oct 2009 15:48:23 +0000

Bloomberg LP has won the acquisition bid for BusinessWeek. Bloomberg is the the financial company built by current New York Mayor Michael R. Bloomberg. The terms of the deal are not known, but it is rumored to be worth about $2-$5 million in cash and Bloomberg will be responsible for the liabilities of the news print company. These liabilities may include severance payments.

BusinessWeek employs about 400 people and several of these jobs will be cut. The parent company of BusinessWeek is McGraw-Hill. The news print business as a whole has been suffering as many readers have been turning to the Internet for real-time news. As part of the deal BusinessWeek editor-in-chief Steve Adler announced that benefits will be given to employees for about one year after the deal closes.

“The reporting and analytical resources of Bloomberg and BusinessWeek are unparalleled in their ability to deliver timely, distinctive and credible content to an influential and highly sought-after audience,” stated Bloomberg LP Chairman Peter Grauer. BusinessWeek is Bloomberg’s first major acquisition ever.

BusinessWeek Unleashes Topic Pages Called Business Exchange

Amit Chowdhry — Tue, 19 Aug 2008 06:42:15 +0000

BusinessWeek.com, subsidiary of The McGraw-Hill Companies, Inc. (NYSE:MHP) and the online version of the magazine publication announced that they are launching topic pages.

“With advertising revenue sliding, publications try a lot of things online to get noticed, like — pardon the jargon — verticals, aggregation, user-generated content, popularity rankings and even something resembling social networks,” stated Richard Pérez-Peña of The New York Times. Richard was referring to BusinessWeek. The ironic part of this quote is that The New York Times also recently created a social network around their publication.

BusinessWeek is launching a new service called Business Exchange. BusinessWeek has been quietly working on the new social system over the last 2 years. Business Exchange will launch in late September. There will be hundreds of topic pages that has a wide range of subjects. The topics will link to other blog posts and news articles.

“As journalists, we’re good at finding great sources of information and distinguishing what’s important, but we also want to harness the very significant capabilities of our community,” stated Stephen J. Adler, a chief editor at BusinessWeek. “It only takes a very small percentage of people being active in a topic for it to be really vibrant and valuable for everybody else.”

Each user on BusinessWeek will have profile pages. Users can upload photos, add descriptions of themselves, and track what other users are reading and posting. Information can be imported from LinkedIn as well. BusinessWeek has about 900,000 print subscribers.

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