Bloomberg’s Businessweek, the magazine that the company bought for more than $5 million from McGraw-Hill last fall, rolls out today.Bloomberg wants to use the magazine as a “stage” and bring in a broader audience beyond their 300,000 subscribers. Bloomberg president Daniel Doctoroff thinks the magazine will make them “the most influential business and financial news organisation in the world.”
Here’s a breakdown of the makeover:
- Businessweek’s losses were about $60 million in 2009, according to WSJ sources.
- As we told you before, the transition hasn’t been easy for Businessweek writers.
- After cutting a third of its staff, including some big name reporters, Businessweek only has three New York writers, the Journal reports.
- Fewer than 300 people work for the magazine now, down from about 400 in October.
- Many new hires came from the new editor in chief Josh Tyrangiel bringing on Time Inc. vets to help work on the new design.
- But the new magazine doubles the number of articles it used to have each issue — 66 news pages — and most of them will be re-worked articles from Bloomberg News.
- New sections include economics, companies, politics and policy, technology, and markets.
- Bloomberg Businessweek weekly circ. is at 900,000 now. they are giving away 200,000 copies.
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