Bloomberg Completes Acquisition of BusinessWeek

Bloomberg L.P., the world's most trusted source of information for businesses and professionals, has completed the acquisition of BusinessWeek from The McGraw-Hill Companies, Inc.

"We share with McGraw-Hill a commitment to editorial excellence and we look forward to building on BusinessWeek's 80-year tradition of great journalism," said Bloomberg Chairman Peter T. Grauer. "The reporting and analytical resources of Bloomberg and BusinessWeek are unparalleled in their ability to deliver timely, credible content to an influential and highly sought-after audience."

"Bloomberg's universe of market makers and BusinessWeek's readership of business decision makers create a powerful audience and a unique value proposition for advertisers," said Daniel L. Doctoroff, president of Bloomberg. "The BusinessWeek acquisition will yield significant benefits for users of the BLOOMBERG PROFESSIONAL® service, and for our television, online and mobile properties. We are delighted to welcome BusinessWeek to the Bloomberg family."

BusinessWeek is a global source of business insight that inspires leaders to turn ideas into action. BusinessWeek magazine, founded in 1929, is the market leader among business periodicals with more than 4.7 million readers each week in 140 countries.

Financial professionals rely on Bloomberg's media platforms for essential information and context. The BLOOMBERG NEWS® service delivers breaking news stories, real-time alerts, investigative and enterprise reporting on global markets and the businesses, governments and individuals that rely on them. The BLOOMBERG TELEVISION® 24-hour network reaches more than 200 million homes. BLOOMBERG RADIO® services broadcast via Sirius XM Radio and 1worldspace(TM) satellite radio globally and on WBBR 1130AM in New York. The award-winning monthly BLOOMBERG MARKETS® magazine and the BLOOMBERG.COM® financial news and information Web site provide news and insight to investors.

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Bloomberg combines innovative technology with unmatched analytic, data, news, display and distribution capabilities, to deliver critical information via the BLOOMBERG PROFESSIONAL® service and multimedia platforms. Bloomberg's media services cover the world with more than 2,200 news and multimedia professionals at 146 bureaus in 72 countries.

The BLOOMBERG PROFESSIONAL service and data products are owned and distributed by Bloomberg Finance L.P. (BFLP) except that Bloomberg L.P. and its subsidiaries (BLP) distribute these products in Argentina, Bermuda, China, India, Japan and Korea. BLOOMBERG and BLOOMBERG NEWS are trademarks and service marks of Bloomberg Finance L.P., a Delaware limited partnership, or its subsidiaries. All rights reserved.