BusinessWeek to be acquired by Bloomberg

BusinessWeek to be acquired by Bloomberg

Bloomberg has won the bid to acquire BusinessWeek.

Bloomberg and BusinessWeek have not revealed the financial aspects of this acquisition deal.

They are expecting the deal to close by December this year.

Daniel L. Doctoroff, president of Bloomberg spoke about this acquisition deal: “The BusinessWeek acquisition will yield huge benefits for users of the Bloomberg terminal, for our television, online and mobile properties. We couldn’t be more excited…We are not buying BusinessWeek to gut it. We are buying it to build it.”

Bloomberg LP Chairman Peter Grauer added: “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.”

Checkout: BusinessWeek | Bloomberg