Peter Kafka

Recent Posts by Peter Kafka

BusinessWeek Gives McGraw-Hill a (Small) Going Away Present

Can’t really say that BusinessWeek’s 80-year run at McGraw-Hill ended on an up note, since the publisher sold the magazine for a fire-sale price.

But at least that price was a little bit more than McGraw-Hill (MHP) expected: Bloomberg ended up paying $10.5 million for the weekly instead of the $9.3 million it had previously told investors to expect, the publisher reported today.

After taxes, that nets out to a gain of $6.7 million (versus previous expectations of $5.9 million), and a grand total of two cents added to the company’s fourth-quarter earnings per share.


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The problem with the Billionaire Savior phase of the newspaper collapse has always been that billionaires don’t tend to like the kind of authority-questioning journalism that upsets the status quo.

— Ryan Chittum, writing in the Columbia Journalism Review about the promise of Pierre Omidyar’s new media venture with Glenn Greenwald