Bloomberg signs deal to buy Business Week

New York, Oct 14: Bloomberg on Wednesday, Oct 14 said that it has agreed to buy Business Week magazine, after the publication was put up for sale due to drop in ad sales, a media report said.

According to the report the price was believed to be around $5 million. The magazine is a mainstay of the US business world with a circulation of around 921,000.

Bloomberg said that it would take control of the magazine by 2009 end and use it to reach the top-level corporate executives who do not regularly check the company's electronic services.

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