Mansueto, Wasserstein indicate interest in 'BusinessWeek'

Published on .

New York—Joe Mansueto and Bruce Wasserstein have separately expressed interest in acquiring BusinessWeek, according to the "Fine On Media" blog written by BusinessWeek columnist Jon Fine.

Mansueto owns Fast Company and Inc. through Mansueto Ventures.

Wasserstein, through various companies, owns The Deal and a large stake in Penton Media. Platinum Equity, Warburg Pincus and OpenGate Capital have all reportedly attended presentations about BusinessWeek.

In the blog, Fine also discussed BusinessWeek's financial state: "In the first quarter of 2009 — roughly the nadir of the ad downturn for magazines—total revenues for BusinessWeek and its ancillary products came to $27.8 million, down from $36.9 million in the first quarter of 2008, says the financial data initially provided to potential buyers. If you include corporate overhead charges like rent, according to that data, BusinessWeek lost $16.6 million in the first quarter of 2009."

Most Popular
In this article: