Bloomberg Businessweek
| File:Bloomberg Businessweek logo.svg Logo used since 2010 redesign | |
| Company type | Subsidiary |
|---|---|
| Industry | Publishing, Business magazine |
| Predecessor | BusinessWeek |
| Founded | 1 September 1929 in New York City, United States |
| Founder | Malcolm Muir (founder of McGraw-Hill Publishing which launched Business Week) |
| Headquarters | New York City , United States |
Area served | United States, international editions (digital) |
Key people | Brad Stone (editor, 2024–present) |
| Products | Business magazine |
| Owner | Bloomberg L.P. |
| Parent | Bloomberg L.P. |
| Website | www |
Bloomberg Businessweek, previously known as BusinessWeek, is a United States-based business magazine issued monthly, with twelve editions annually. It was first introduced in New York City in September 1929. Since 2009, ownership has belonged to Bloomberg L.P., and the publication switched to a monthly frequency in June 2024.
1929–2008: Businessweek
The Business Week made its debut in New York City just weeks prior to the 1929 stock market crash, offering analysis on topics such as marketing, labor, finance, management, and national political matters affecting the business sector. The name was shortened to Business Week in 1934.
Initially aimed at business executives, the magazine broadened its target demographic during the 1970s to reach a wider consumer base. By 1975, it had become the leading U.S. magazine in terms of annual advertising page count. Between 1976 and 1977, the title was updated from Business Week to BusinessWeek.
Stephen B. Shepard held the editor-in-chief position from 1984 until 2005, a period during which readership surpassed six million in the late 1980s. He was followed by Stephen J. Adler, who joined from The Wall Street Journal.
Since 1988, Businessweek has issued yearly rankings of U.S. MBA programs, and in 2006 it expanded these rankings to include undergraduate business programs.
2009–present: Bloomberg Businessweek
During the late-2000s economic downturn, Businessweek experienced a drop in circulation alongside a one-third decline in advertising revenue by early 2009, with circulation numbers falling to 936,000. In July 2009, McGraw-Hill attempted to sell Businessweek, reportedly for as low as $1 due to outstanding liabilities.
Later that year, Bloomberg L.P. purchased the magazine—estimated between $2 million and $5 million plus debt—and rebranded it as Bloomberg BusinessWeek. According to reports from 2019, McGraw-Hill received a price at the higher end of that range along with debt assumption.
In early 2010, the publication’s name was revised to Bloomberg Businessweek (with a lowercase "w") as part of a redesign. The magazine’s distinctive and daring visual style was crafted by creative directors Richard Turley, Rob Vargas (starting in 2014), and Deputy Creative Director Tracy Ma (2011–2016), who collectively influenced over 200 editions.
By 2014, annual losses had decreased to $30 million from $60 million in 2009. Editor-in-chief Stephen Adler stepped down and was succeeded by Josh Tyrangiel, formerly deputy managing editor at Time. In 2016, amid losses estimated between $20 million and $30 million, Bloomberg reduced its global editorial staff by nearly thirty journalists and announced plans for a relaunch in 2017. Ellen Pollock resigned as editor; Washington Bureau Chief Megan Murphy took over as editor-in-chief.
Murphy remained at the helm until January 2018 when Joel Weber, previously editor of Bloomberg Markets, assumed leadership. In January 2024, Brad Stone was named editor coinciding with the magazine’s shift to bi-weekly issues. By June 2024, Bloomberg Businessweek adopted a monthly print cycle complemented by an enhanced digital platform.
"The Big Hack"
On October 4, 2018, Bloomberg Businessweek released an article titled "The Big Hack: How China Used a Tiny Chip to Infiltrate U.S. Companies," alleging that China compromised technology corporations such as Amazon and Apple by embedding an additional integrated circuit onto a Supermicro server motherboard during its production.
Pingwest, a media outlet founded in Silicon Valley and operating out of Beijing, identified the component as a balun. They highlighted its diminutive dimensions, arguing it lacked the capacity to store hacking instructions. Pingwest further criticized Businessweek for underestimating the cybersecurity defenses of Amazon and Apple.
The report was met with immediate doubt. On the day of publication, Apple, Amazon, and Supermicro each issued statements denying the allegations, which Bloomberg acknowledged. Within a week, the United States Department of Homeland Security confirmed there was no evidence contradicting these denials. Additionally, the National Security Agency, along with the UK's Government Communications Headquarters and National Cyber Security Centre, refuted the claims made in the article.
In 2021, Bloomberg revisited the topic with a follow-up piece that reaffirmed its initial accusations.
Additional versions
Until 2005, international editions of Businessweek circulated in Europe and Asia; however, print versions were discontinued that year to encourage foreign audiences to engage with region-specific European and Asian digital editions of the magazine. Concurrently, a Russian edition was introduced through collaboration with Rodionov Publishing House.
At the same time, Businessweek collaborated with InfoPro Management in Beirut to launch an Arabic edition distributed throughout 22 Arab nations.
In 2011, Bloomberg Businessweek broadened its reach by debuting a Polish-language version named Bloomberg Businessweek Polska and reviving its Chinese edition. That year also marked the release of an iPad version utilizing Apple's subscription billing system—the first magazine to implement this approach—allowing users to subscribe via their iTunes accounts. The iPad edition has since garnered more than 100,000 subscribers.
Honors and awards
In 2011, Adweek honored Bloomberg Businessweek as the leading business magazine in the United States. The following year, it secured the general excellence award for general-interest publications at the National Magazine Awards. Also in 2012, editor Josh Tyrangiel received recognition as magazine editor of the year from Ad Age. In 2014, the magazine earned a Society of American Business Editors and Writers Best in Business award for overall excellence.
In 2016, the Online Journalism Awards commended Bloomberg Businessweek for its explanatory coverage titled "What Is Code?"
Employees
Prominent past and present staff members include:
- Stephen B. Shepard, editor-in-chief from 1984 to 2005 and founding dean of the CUNY Graduate School of Journalism
- Elliott V. Bell, former publisher and editor-in-chief as well as New York State Superintendent of Banks
- Robert Kolker, investigative journalist and author of Hidden Valley Road
- Brad Stone, investigative journalist specializing in technology companies
- Josh Tyrangiel, former editor and deputy managing editor at Time
- Malcolm Muir, founder and president of McGraw-Hill Publishing between 1928 and 1937
- Virgil Jordan, previous editor and former president of The Conference Board
- Judith H. Dobrzynski, former senior editor
- Stephen J. Adler, editor-in-chief from 2005 to 2009 who later served as editor-in-chief at Reuters from 2011 to 2021
- Carla Robbins, former reporter and deputy editorial page editor at The New York Times from 2007 to 2012