Bloomberg Businessweek

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Bloomberg Businessweek
Bloomberg-businessweek-10-january-2011.jpg
January 10, 2011 cover of
Bloomberg Businessweek
EditorJoel Weber
Categories Business
FrequencyWeekly
Total circulation
(2018)
325,000 [1]
First issueSeptember 1929;89 years ago (1929-09)
Company Bloomberg L.P.
CountryUnited States
Based in New York, NY
LanguageEnglish
Website www.bloomberg.com/businessweek
ISSN 0007-7135

Bloomberg Businessweek is an American weekly business magazine published since 2009 by Bloomberg L.P. Businessweek, founded in 1929, [2] aimed to provide information and interpretation about events in the business world. The magazine is headquartered in New York City. The magazine is published 47 times a year.[ citation needed ]

In economics, the business sector or corporate sector - sometimes popularly called simply "business" - is "the part of the economy made up by companies". It is a subset of the domestic economy, excluding the economic activities of general government, of private households, and of non-profit organizations serving individuals. An alternative analysis of economies, the three-sector theory, subdivides them into:

Bloomberg L.P. Financial, software, data, and media company based in New York City

Bloomberg L.P. is a privately held financial, software, data, and media company headquartered in Midtown Manhattan, New York City. It was founded by Michael Bloomberg in 1981, with the help of Thomas Secunda, Duncan MacMillan, Charles Zegar, and a 30% ownership investment by Merrill Lynch.

New York City Largest city in the United States

The City of New York, usually called either New York City (NYC) or simply New York (NY), is the most populous city in the United States. With an estimated 2018 population of 8,398,748 distributed over a land area of about 302.6 square miles (784 km2), New York is also the most densely populated major city in the United States. Located at the southern tip of the state of New York, the city is the center of the New York metropolitan area, the largest metropolitan area in the world by urban landmass and one of the world's most populous megacities, with an estimated 19,979,477 people in its 2018 Metropolitan Statistical Area and 22,679,948 residents in its Combined Statistical Area. A global power city, New York City has been described as the cultural, financial, and media capital of the world, and exerts a significant impact upon commerce, entertainment, research, technology, education, politics, tourism, art, fashion, and sports. The city's fast pace has inspired the term New York minute. Home to the headquarters of the United Nations, New York is an important center for international diplomacy.

Contents

History

Businessweek was first published in September 1929, weeks before the stock market crash of 1929. The magazine provided information and opinions on what was happening in the business world at the time. Early sections of the magazine included marketing, labor, finance, management and Washington Outlook, which made Businessweek one of the first publications to cover national political issues that directly impacted the business world. [3]

Businessweek was originally published to be a resource for business managers. However, in the 1970s, the magazine shifted its strategy and added consumers outside the business world. [2] As of 1975, the magazine was carrying more advertising pages annually than any other magazine in the United States. [4] Businessweek began publishing its annual rankings of United States business school MBA programs in 1988. [5]

A business school is a university-level institution that confers degrees in business administration or management. According to Kaplan, business schools are "educational institutions that specialize in teaching courses and programs related to business and/or management". Such a school can also be known as school of management, school of business administration, or colloquially b-school or biz school. A business school teaches topics such as accounting, administration, strategy, economics, entrepreneurship, finance, human resource management, management science, management information systems, international business, logistics, marketing, organizational psychology, organizational behavior, public relations, research methods and real estate among others.

The Master of Business Administration degree originated in the United States in the early 20th century when the country industrialized and companies sought scientific approaches to management. The core courses in an MBA program cover various areas of business such as accounting, applied statistics, business communication, business ethics, business law, finance, managerial economics, management, entrepreneurship, marketing and operations in a manner most relevant to management analysis and strategy.

Stephen B. Shepard served as editor-in-chief from 1984 until 2005 when he was chosen to be the founding dean of the CUNY Graduate School of Journalism. Under Shepard, Businessweek's readership grew to more than six million in the late 1980s. [6] He was succeeded by Stephen J. Adler of The Wall Street Journal . [7] In 2006, Businessweek started publishing annual rankings of undergraduate business programs in addition to its MBA program listing. [8]

Stephen B. Shepard is an American business journalist and academic who served as editor-in-chief of BusinessWeek magazine and was the founding dean of the CUNY Graduate School of Journalism

Stephen J. Adler is an American journalist. He has been editor-in-chief of Reuters since 2011 and president since 2012.

<i>The Wall Street Journal</i> American business-focused daily broadsheet newspaper based in New York City

The Wall Street Journal is a U.S. business-focused, English-language international daily newspaper based in New York City. The Journal, along with its Asian and European editions, is published six days a week by Dow Jones & Company, a division of News Corp. The newspaper is published in the broadsheet format and online. The Journal has been printed continuously since its inception on July 8, 1889, by Charles Dow, Edward Jones, and Charles Bergstresser.

Recession and Bloomberg LP acquisition

Businessweek suffered a decline in circulation during the late-2000s recession as advertising revenues fell one-third by the start of 2009 and the magazine's circulation fell to 936,000. In July 2009, it was reported that McGraw-Hill was trying to sell Businessweek and had hired Evercore Partners to conduct the sale. Because of the magazine's liabilities, it was suggested that it might change hands for the nominal price of $1 to an investor who was willing to incur losses turning the magazine around. [9]

In late 2009, Bloomberg L.P. bought the magazine—reportedly for between $2 million to $5 million plus assumption of liabilities—and renamed it Bloomberg BusinessWeek. [10] [11] It is now believed McGraw-Hill received the high end of the speculated price, at $5 million, along with the assumption of debt.

2010 - 2018

In early 2010, the magazine title was restyled Bloomberg Businessweek (with a lowercase "w") as part of a redesign. [12] As of 2014, the magazine was losing $30 million per year, about half of the $60 million it was reported losing in 2009. [13] Adler resigned as editor-in-chief and was replaced by Josh Tyrangiel, who had been deputy managing editor of Time magazine. [14] In 2016 Bloomberg announced changes to Businessweek, which was losing between $20 and $30 million. Nearly 30 Bloomberg News journalists were let go across the U.S. Europe and Asia and it was announced that a new version of Bloomberg Businessweek would launch the following year. In addition, editor in chief Ellen Pollock stepped down from her position and Washington Bureau Chief Megan Murphy was named as the next editor in chief. [15] Megan Murphy served as editor from November 2016; [15] until she stepped down from the role in January 2018 and Joel Weber was appointed by the editorial board in her place. [16]

Additional versions

International editions of Businessweek were available on newsstands in Europe and Asia until 2005 when publication of regional editions was suspended to help increase foreign readership of customized European and Asian versions of Businessweek's website. [17] However, the same year the Russian edition was launched in collaboration with Rodionov Publishing House. [18]

At the same time, Businessweek partnered with InfoPro Management, a publishing and market research company based in Beirut, Lebanon, to produce the Arabic version of the magazine in 22 Arab countries. [19]

In 2011, Bloomberg Businessweek continued the magazine's international expansion and announced plans to introduce a Polish-language edition called Bloomberg Businessweek Polska, as well as a Chinese edition which was relaunched in November 2011. [20] [21] [22]

Bloomberg Businessweek launched an iPad version of the magazine using Apple's subscription billing service in 2011. [23] [24] The iPad edition was the first to use this subscription method, which allows one to subscribe via an iTunes account. [25] There are over 100,000 subscribers to the iPad edition of Businessweek. [26]

"The Big Hack"

On October 4, 2018, Bloomberg Businessweek published "The Big Hack: How China Used a Tiny Chip to Infiltrate U.S. Companies", an article by Jordan Robertson and Michael Riley which claimed that China had hacked dozens of technology corporations including Amazon and Apple by placing an extra integrated circuit on a Supermicro server motherboard during manufacturing. [27]

The claims by Bloomberg have been heavily questioned. By 2 pm on the day of publication, Apple, Amazon, and Supermicro issued blanket denials, which Bloomberg duly reported. [28] Within the week, the United States Department of Homeland Security put out a statement to the effect that they saw no reason to question those refutations. [29] The National Security Agency and Government Communications Headquarters and NCSC also issued similar statements. [30]

Honors and awards

In the year 2011, Adweek named Bloomberg Businessweek as the top business magazine in the country. [31] In 2012, Bloomberg Businessweek won the general excellence award for general-interest magazines at the National Magazine Awards. [32] Also in 2012, Bloomberg Businessweek editor Josh Tyrangiel was named magazine editor of the year by Ad Age . [33] In 2014, Bloomberg Businessweek won a Society of American Business Editors and Writers Best in Business award for magazines, general excellence. [34]

Name and spelling history

See also

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References

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  2. 1 2 "McGraw-Hill trying to sell BusinessWeek". Reuters. July 13, 2009. Retrieved July 22, 2011.
  3. "A historical perspective of Businessweek, sold to Bloomberg". Talking Biz News. Retrieved August 14, 2010.
  4. Jackson, Kenneth T.; Keller, Lisa; Flood, Nancy V., eds. (2010). The Encyclopedia of New York City (2nd ed.). New Haven: Yale University Press; New‑York Historical Society. p. 957. ISBN   978-0-300-18257-6. LCCN   2010-31294. OCLC   842264684. OL   25891135M.
  5. "BusinessWeek Business School Rankings". BusinessWeek. Archived from the original on June 3, 2007. Retrieved January 23, 2007.
  6. Moeller, Philip (July 31, 1988). "Controlling 'insider' information is impossible". Toronto Star. Retrieved July 22, 2011.
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    According to three people at Bloomberg, Bloomberg Markets magazine editor Joel Weber will take over the company's flagship Businessweek magazine, succeeding current editor Megan Murphy.
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  28. "The Big Hack: Statements From Amazon, Apple, Supermicro, and the Chinese Government". October 4, 2018.
  29. "Statement from DHS Press Secretary on Recent Media Reports of Potential Supply Chain Compromise". October 6, 2018.
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