Mort Zuckerman, OpenGate Drop Out Of The BusinessWeek Bidding

It’s looking more and more inevitable that BusinessWeek will be a Bloomberg property.

Reuters is reporting that Mort Zuckerman has dropped out of the bidding. It also reports OpenGate Capital, owner of TV Guide has dropped out. This leaves Bloomberg, and ZelnickMedia.

According to Reuters’ sources BusinessWeek’s parent, McGraw Hill (MHP) wants to see the magazine sold to Bloomberg, where the magazine could live on prosperously since Bloomberg is also in the financial news business.

This is what scared off OpenGate, and it will probably scare off Zelnick too.

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.