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 February 15, 2021 cover of Bloomberg Businessweek | |
| Editor | Brad Stone |
|---|---|
| Categories | Business |
| Frequency | monthly |
| Total circulation (2018) | 325,000[1] |
| Founded | September 1929; 95 years ago (1929-09),New York City |
| First issue | September 1929; 95 years ago (1929-09), New York City |
| Company | Bloomberg L.P. |
| Country | United States |
| Based in | New York City Bloomberg Tower, 731Lexington Avenue,Manhattan, New York City 10022, United States (business magazine) Citigroup Center, 153East 53rd Street between Lexington andThird Avenue, Manhattan, New York City 10022 (market magazine) |
| Language | English |
| Website | bloomberg |
| ISSN | 0007-7135 |
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Bloomberg Businessweek, previously known asBusinessWeek (and before thatBusiness Week andThe Business Week), is an American monthly business magazine published 12 times a year.[2] The magazine debuted in New York City in September 1929.[3]
Since 2009, the magazine has been owned byBloomberg L.P. and became a monthly in June 2024.
The Business Week was first published based inNew York City in September 1929, weeks before thestock market crash of 1929.[4] The magazine provided information and opinions on what was happening in the business world at the time. Early sections of the magazine included marketing, labor, finance, management and Washington Outlook, which madeThe Business Week one of the first publications to cover national political issues that directly impacted the business world.[5] The name of the magazine was shortened toBusiness Week in 1934.[6]
Originally published as a resource for business managers, in the 1970s, the magazine shifted its strategy and added consumers outside the business world.[3] As of 1975[update], the magazine was carrying more advertising pages annually than any other magazine in the United States.[7] In 1976 and 1977, the magazine's name's form was changed fromBusiness Week toBusinessWeek.[8]
Stephen B. Shepard served as editor-in-chief from 1984 until 2005 when he was chosen to be the founding dean of theCUNY Graduate School of Journalism. Under Shepard,Businessweek's readership grew to more than six million in the late 1980s.[9] He was succeeded byStephen J. Adler ofThe Wall Street Journal.[10]
Businessweek began publishing its annual rankings of United Statesbusiness schoolMBA programs in 1988.[11] In 2006,Businessweek started publishing annual rankings ofundergraduate business programs in addition to its MBA program listing.[12]
Businessweek suffered a decline in circulation during thelate-2000s recession as advertising revenues fell one-third by the start of 2009 and the magazine's circulation fell to 936,000. In July 2009, it was reported thatMcGraw-Hill was trying to sellBusinessweek and had hiredEvercore Partners to conduct the sale.[13] Because of the magazine's liabilities, it was suggested that it might change hands for the nominal price of $1 to an investor who was willing to incur losses turning the magazine around.[14]
In late 2009,Bloomberg L.P. bought the magazine—reportedly for between $2 million to $5 million plus assumption of liabilities—and renamed itBloomberg BusinessWeek.[15] News reports published in 2019 suggest McGraw-Hill received the high end of the speculated price, at $5 million, along with the assumption of debt.[16][17]
In early 2010, the magazine title was restyledBloomberg Businessweek (with a lowercase "w") as part of a redesign.[18] During the following years, the bold, eclectic, playful, and memetic face ofBusinessweek was cultivated largely byBusinessweek's Creative director,Richard Turley then Rob Vargas (from 2014), and Deputy Creative director Tracy Ma (from 2011 through 2016). During her time atBusinessweek, Ma worked on over 200 issues.[19]
As of 2014[update], the magazine was losing $30 million per year, about half of the $60 million it was reported losing in 2009.[20] Adler resigned as editor-in-chief and was replaced byJosh Tyrangiel, who had been deputy managing editor ofTime magazine.[21] In 2016, Bloomberg announced changes toBusinessweek, which was losing between $20 and $30 million. Nearly 30 Bloomberg News journalists were let go across the U.S., Europe and Asia and it was announced that a new version ofBloomberg Businessweek would launch the following year. In addition, editor in chief Ellen Pollock stepped down from her position and Washington Bureau Chief Megan Murphy was named as the next editor in chief.[22] Megan Murphy served as editor from November 2016;[22] until she stepped down from the role in January 2018 and Joel Weber was appointed by the editorial board in her place.[23]
Brad Stone was appointed editor of the magazine in January 2024, when the magazine switched to publishing bi-weekly.[24] In June of the same year, the magazine became a monthly.[25]
On October 4, 2018,Bloomberg Businessweek published "The Big Hack: How China Used a Tiny Chip to Infiltrate U.S. Companies", an article by Jordan Robertson and Michael Riley which claimed thatChina had hacked dozens of technology corporations includingAmazon andApple by placing an extra integrated circuit on aSupermicro server motherboard during manufacturing.[26]
Pingwest, a media company founded inSilicon Valley and based inBeijing, identified the chip mentioned in the article as abalun. Pingwest pointed out that its size made it impossible to implement any form of attack; it did not have the storage space required to store commands that would allow ahacker to infiltrate the hardware. They suggested thatBusinessweek had underestimated security standards employed by Amazon and Apple.[27]
The claims by Bloomberg have been heavily questioned. By 2 p.m. on the day of publication,Apple,Amazon, andSupermicro issued blanket denials, which Bloomberg reported.[28] Within the week, theUnited States Department of Homeland Security stated that it saw no reason to question those refutations.[29] TheNational Security Agency andGovernment Communications Headquarters andNCSC also denied the article's claims.[30]
In 2021, Bloomberg published a follow-up article standing by its allegations.[31][32]
International editions ofBusinessweek were available on newsstands in Europe and Asia until 2005 when publication of regional editions was suspended to help increase foreign readership of customized European and Asian versions ofBusinessweek's website.[33] However, the same year the Russian edition was launched in collaboration with Rodionov Publishing House.[34]
At the same time,Businessweek partnered with InfoPro Management, a publishing and market research company based inBeirut, Lebanon, to produce the Arabic version of the magazine in 22 Arab countries.[35]
In 2011,Bloomberg Businessweek continued the magazine's international expansion and announced plans to introduce a Polish-language edition calledBloomberg Businessweek Polska, as well as a Chinese edition which was relaunched in November 2011.[36][37][38]
Bloomberg Businessweek launched aniPad version of the magazine usingApple's subscription billing service in 2011.[39][40] The iPad edition was the first to use this subscription method, which allows one to subscribe via aniTunes account.[41] There are over 100,000 subscribers to the iPad edition ofBusinessweek.[42]
In the year 2011,Adweek namedBloomberg Businessweek as the top business magazine in the country.[43] In 2012,Bloomberg Businessweek won the general excellence award for general-interest magazines at theNational Magazine Awards.[44] Also in 2012,Bloomberg Businessweek editor Josh Tyrangiel was named magazine editor of the year byAd Age.[45] In 2014,Bloomberg Businessweek won aSociety of American Business Editors and Writers Best in Business award for magazines, general excellence.[46]
In 2016, theOnline Journalism Awards highlightedBloomberg Businessweek's explanatory reporting work on “What Is Code?”[47][48]
Notable present and former employees of the magazine include:[49]
Terms of the deal were not disclosed, but the price was said to be near $5 million, plus assumption of liabilities, which were $31.9 million as of April.
Bloomberg Businessweek announced a new editor on Thursday, shuffling its editorial structure.
According to three people at Bloomberg,Bloomberg Markets magazine editor Joel Weber will take over the company's flagshipBusinessweek magazine, succeeding current editor Megan Murphy.
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