Tuesday, September 29, 2009

McGraw Hill Is/Is Not Leaning Toward Bloomberg

Continuing the maddeningly inconsistent coverage of the sale of BusinessWeek, Reuters reports this afternoon that McGraw-Hill is "leaning heavily" toward selling BW to Bloomberg.

Meanwhile, Keith Kelly reports in the New York Post that all is quiet on the Bloomberg front: ". . . the board has yet to meet to consider the Bloomberg offer or any other offer. The board is not expected to meet in the next few days."

Kelly also said that "many top Bloomberg execs, including Chief Content Officer Norman Pearlstine, who was quarterbacking the deal were celebrating Yom Kippur yesterday."

Perhaps these two reports are consistent after all, as I guess one can "lean heavily" toward Bloomberg without acting on it, but they seem to "lean heavily" (to borrow a phrase) in different directions.

Meanwhile, Tom Lowry tips the scales decidedly in the Bloomberg direction in this blog item later today.

© 2009 Gary Weiss. All rights reserved.

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