|New York, NY
|Editor-in-chief Steve Adler
|BusinessWeek magazine, businessweek.com web site and BusinessWeek-branded television programming
BusinessWeek bills itself as the world's most widely-read business magazine with a global audience for its multimedia content of over eight million weekly. Owner McGraw-Hill Cos. has struggled recently, cutting more than 2,000 jobs in the past two years.
BusinessWeek is the flagship publication of parent company McGraw-Hill's Information and Media (I&M) Group, which calls more than half of the magazine's total eight million readers "success-minded professionals." The publication heads its own sub-group of M&I that includes online and television programming, plus events, education, research and publishing.
Editor-in-chief Steve Adler (left) took over from long-serving predecessor Steve Shepard in April 2005 from a stint as deputy managing editor at the Wall Street Journal and is widely considered to have improved BusinessWeek. Adler in turn hired Executive Editor John Byrne, a former rival for the top job who had previously served as editor of Fast Company and before that had been a reporter for BusinessWeek. Adler also hired reporters from the Wall Street Journal, New York Times and SmartMoney, plus media columnist Jon Fine from "Advertising Age" and celebrity columnists Jack Welch and Suzy Welch.
- BusinessWeek and its media stablemates like Aviation Week, J.D. Power & Associates and Platts were spared the latest round of 400 job cuts announced in May 2008 by publisher McGraw-Hill Companies. CEO Harold McGraw III said job cuts would be in areas "most affected by current market challenges. McGraw-Hill's first-quarter 2008 overall revenues fell 6.1 percent on 2007 while revenues from the I&M Group rose 3.2 percent over the same period.
- McGraw Hill announced in June of 2008 that it would shut down its monthly magazine, BusinessWeek Chicago, after publishing only eight issues. The cause was slow ad sales, according to several people familiar with the situation. Two staffers, one in editorial and one salesperson, lost their jobs. Michael Arndt was BusinessWeek Chicago's editor. He continues to serve as a senior correspondent for BusinessWeek.