Businessweek loses $30 million per year, according to an estimate from analysts referenced in a Financial Times story announcing the launch of Bloomberg Business:
Bloomberg says Businessweek’s advertising revenue has increased 24 per cent between the acquisition and 2013, and its rate base — circulation promised to advertisers — has risen 9 per cent to 980,000. Publishers Information Bureau data show it gaining advertising page share from competitors The Economist, Forbes and Fortune.
Bloomberg, a private company, does not disclose financial results for its divisions but analysts estimate Businessweek loses about $30m a year — half the $60m Dan Doctoroff, Bloomberg’s outgoing chief executive, said it was losing in 2009.
The Financial Times reported Wednesday that Businessweek.com and Bloomberg.com will be replaced by Bloomberg Business, which will be Bloomberg Media Group’s flagship website.
