Bloomberg To Fire the Entire BusinessWeek Staff?

More

This news seems impossible to believe, but I'll pass it along anyway, because it's getting traction on WWD and Gawker.

Bloomberg LP remains the front-runner [to buy BusinessWeek], although the company is expected to only take on the BusinessWeek name and Web site, and none of its staff or bureaus.

What?! Bloomberg is going to fire everybody?


Hamilton Nolan, block that crazy talk! Tell me what to believe.

another informed source we spoke to called WWD's version "nuts" ... the winning bidder would have a commitment to keeping BW in operation as a print magazine (and a decent one), our source said--otherwise, why bid on the company at all?

Now that's making sense. Changing owners often means layoffs for a magazine, and changing owners at a magazine losing about $40 million a year certainly means layoffs. But why in the world would McGraw Hill sell BW to Bloomberg for the domain name alone? And how could it possibly staff a weekly magazine with employees who are presumably already busy at Bloomberg?

Nolan's take wins on pure reason: Some BW staffers are let go with severance, some find another job, some jump over to Bloomberg (and some Bloomberg jump over to BW) and some stay. A wholesale firing seems absurd, unless Bloomberg's pitch to turn BusinessWeek.com into a ghost town-aggregator is the only offer McGraw got.

Jump to comments
Presented by

Derek Thompson is a senior editor at The Atlantic, where he writes about economics, labor markets, and the entertainment business.

Get Today's Top Stories in Your Inbox (preview)

What Is the Greatest Story Ever Told?

A panel of storytellers share their favorite tales, from the Bible to Charlotte's Web.


Elsewhere on the web

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register. blog comments powered by Disqus

Video

The Death of Film

You'll never hear the whirring sound of a projector again.

Video

How to Hunt With Poison Darts

A Borneo hunter explains one of his tribe's oldest customs: the art of the blowpipe

Video

A Delightful, Pixar-Inspired Cartoon

An action figure and his reluctant sidekick trek across a kitchen in search of treasure.

Video

I Am an Undocumented Immigrant

"I look like a typical young American."

Video

Why Did I Study Physics?

Using hand-drawn cartoons to explain an academic passion

Writers

Up
Down

More in Business

Just In