The enduring but ailing BusinessWeek has been sold to Bloomberg LP in a cash deal that depending on who’s talking will either beef up the magazine or result in mass layoffs.
Bloomberg executives say they plan on substantially increasing the number of editorial pages in the magazine, which despite its prominence in the consumer business media market lost more than $40 million last year.
Up to now, privately held Bloomberg has made most of its $6.3 billion in annual revenues from leasing data terminals to investment firms and corporate customers.
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