NEW YORK — BusinessWeek magazine has generated interest from 93 potential buyers, McGraw-Hill Cos. chairman and chief executive Terry McGraw said Tuesday.
“Everybody’s involved,” McGraw, 61, told Bloomberg Television. “There’s a lot of interest.”
Parties include private equity, hedge funds and strategic buyers, said McGraw, whose New York-based company owns the weekly. He didn’t name any suitors.
The recession and online competition have curbed advertising sales at BusinessWeek and its rivals. McGraw-Hill has said it is exploring options for the magazine after overhauling its education division and the Standard & Poor’s credit-ratings unit.
BusinessWeek’s ad sales fell 33 percent in the first half from a year earlier, to $77.8 million, according to the Publishers Information Bureau. That compares with a 21 percent drop industrywide. Bloomberg News
