New York--BusinessWeek, published by The McGraw-Hill Cos., on Thursday unveiled its redesign. The Oct. 6 issue, the first to feature the new format, hit newsstands Friday. "The media business has fragmented quite a lot," said Steve Shepard, BusinessWeek's editor. "It's important for the design to be dramatic and bold." The title was reworked by FaheyOConnor Design in cooperation with BusinessWeek art director Malcolm Frouman. The new look was unveiled at a cocktail reception and private tour of "From Picasso to Pollock: Classics of Modern Art," at the Solomon R. Guggenheim museum.