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Bloomberg Businessweek is a weekly business magazine founded in 1929. It had historically been named Business Week but was relaunched as Bloomberg Businessweek in 2010 after McGraw-Hill sold the magazine to Bloomberg for a reported $2 million-$5 million.
Bloomberg Businessweek began facing financial uncertainty in the late 2000s as advertising revenues dropped and circulation declined. By 2009 advertising revenues for print had fallen to $60 million from $110 million in 2006. The company reduced staff through several rounds of layoffs, and was losing more than $60 million a year at the time of sale. It was reported to be losing $30 million per year in 2014.
In an effort to find generate new revenues the company introduced Business Exchange, an information and social sharing network, spending an estimated $16 million to launch the site in 2008.
After the purchase in 2009, Bloomberg began merging Businessweek into its larger organization. The magazine reduced its staff by 100 and was brought into the larger Bloomberg News operation. Businessweek writers and editors were also given a copy of “The Bloomberg Way,” the company’s infamous style guide. Josh Tyrangiel, a former deputy managing editor of Time magazine, was hired as the new editor of Businessweek, replacing Stephen Adler, who resigned shortly after the sale to Bloomberg.
With the name change came a print redesign that increased the number of articles and editorial pages. The design introduced new color-coded sections for topics like global economics, technology, and politics and policy among others. In 2012 the Bloomberg Businessweek was awarded the National Magazine Award for General Excellence among general-interest magazines. In 2014, Bloomberg announced that it planned to build a company-wide design shift around Businessweek’s design.
Following the print redesign the magazine relaunched its website in 2012, adding in more photos and data, with a design that mirrored the print edition in its color scheme and use of fonts.
Starting in 2011 BusinessWeek began launching subscription-based apps for iOS devices, beginning with an iPad app that offers full magazine articles, bookmarking features, and markets information on companies mentioned in stories. The company followed up with a similar iPhone app in 2012. As of April 2012 the magazine reported 100,000 iPad subscribers.
The Chicago Tribune is the 11th-largest daily newspaper in the country and the flagship publication of Tribune Publishing. The paper has been under the ownership of the Tribune Company and Tribune Publishing since its founding in 1847. In 2007 the paper, along with other Tribune Company properties including the Los Angeles Times and Baltimore Sun,…