Fox announced his decision in a memo to staffers on Friday, one week after Editor in Chief Stephen Adler announced plans to leave his post and explore other opportunities.
“I am proud that I played a role in ensuring that BusinessWeek has a new home at Bloomberg, where it will thrive under the leadership of [Chief Content Officer] Norman Pearlstine. I am committed to the transition and helping in any way that I can,” Fox said in the memo.
The deal is expected to close in December. Fox did not say what role he will be taking at McGraw-Hill following the sale.