Mansueto interested in BusinessWeek
Fine reports, “In a brief email exchange, Mansueto said he had ‘no comment regarding the potential BusinessWeek sale.’ In 2005 Mansueto bought Inc. and Fast Company from Gruner & Jahr for around $35 million in cash plus the assumption of certain liabilities.
“After two years in which his magazines posted some positive indicators â€” especially Fast Company, which netted 20%-plus ad page gains in 2007 and 2008 â€” both of Mansuetoâ€™s business titles backslid considerably in 2009. For the first six months of this year, Fast Companyâ€™s ad pages dropped 33.6% to 171.3, and Incâ€™s fell 29.0%, to 262.4.
“Yesterday, representatives of Bruce Wasserstein met with BusinessWeek management to view more detailed data regarding the magazineâ€™s finances.”
Read more here. What is not mentioned by Fine is that John Byrne, BusinessWeek’s executive editor and head of its online operations, is the former editor of Fast Company.