Bloomberg News service competes to buy Business journal _New China international _New China net successfully

    New China net Beijing, October 14 – on 13th according to American “Business journal” website, Bloomberg News service has competed to buy “Business journal” successfully. The source disclosed that Bloomberg will pay the cash 2 million to 5 million US dollars.

    In the private placement equity firm and in numerous publication group several rounds bid contest, Bloomberg News service has been regarded as to become the final winner. But Bloomberg has not given the detail by any price purchase, and many “Business journal” staff will face the unemployment.

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International observation: The US Chinese medicine changes predicament “123”    According to “Business journal” website, Bloomberg besides paying outside cash, but also the agreement undertakes “Business journal” debt. In addition, Bloomberg will also pay for other expenses, like to the dismissal expense of “Business journal” staff.

    American “Business journal” parent company McgrawHill Corporation in July 80-year-old, loses money “Business journal” sells. Along with more people in the online gain free information, “Business journal” advertizing revenue slides, and faces from the Bloomberg and other company in the competitions. At the same time, the American economy declined also intensified “Business journal” advertizing revenue drop. According to “Business journal” website disclosed that this magazine loses 40 million US dollars every year.

    The Bloomberg high level expressed after the purchase, maintains “Business journal” the independent operation, and hopes that through purchasing “Business journal”, develops it in financial service sector service.

    This purchase estimate ended at the end of the year, Bloomberg President DanielDoctoroff said that “Business journal” will possibly change the name as “Bloomberg Business journal”. He refuses to disclose the lay-off plan, but indicated: “We purchase are to reconstruct, but is not to eat it…We permit in the financial resource in the scope will retain more staffs as far as possible.”

    The Bloomberg main readers are 300,000 Bloomberg computer terminal subscribers, in addition, it also has the cable television network, with one located at New York’s broadcasting station and “Bloomberg Market”. (Liu Li)

(Chief-editor: Liu Li)