Is
Joe Mansueto about to fish a dollar from his
pocket and buy
BusinessWeek?
Morningstar's
founder and CEO has his eye on the pub, according to
a
report by -- who else? -- BusinessWeek.
| Joe Mansueto Morningstar Founder and CEO | |
Executives from
Mansueto Ventures are expected to
meet with BusinessWeek's top honchos in the next several days to discuss the magazine's finances, the report stated.
Mansueto told BusinessWeek columnist Jon Fine that he had "no comment regarding the potential BusinessWeek sale."
Other interested buyers for BusinessWeek reportedly include
Bruce Wasserstein,
Platinum
Equity,
Warburg Pincus and
Open Gate Capital.
According to media reports, BusinessWeek -- which lost more than $45 million last year and lost $16.6 million in the first quarter of this year -- could fetch just one dollar.
If Mansueto gets his hands on the magazine, BusinessWeek would join
Inc. and
Fast Company, which Mansueto bought in 2005 from
Gruner & Jahr for about $35 million in cash.
BusinessWeek is owned by McGraw-Hill Companies.
 
Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE