BusinessWeek Announces Repositioning in Global Markets

Single Global Print Edition and a Focus on Online and Local Language Editions

NEW YORK, Dec. 7 /PRNewswire-FirstCall/ -- In order to most effectively meet current business and customer needs and to strengthen the franchise for future growth, BusinessWeek announced today that it will reposition its approach to global markets. A greater emphasis will be placed on providing online news, analysis and information and on developing local language publications while maintaining a single flagship print product.

"We have decided to create robust, customized Asian and European versions of our popular BusinessWeek Online Web site, while delivering a single global edition of BusinessWeek magazine instead of providing separate regional versions," said Stephen J. Adler, Editor-in-Chief of BusinessWeek. "We are taking this action to harness the growing power of the Web globally and to serve readers and advertisers in a more timely, efficient, and targeted way."

"BusinessWeek is dedicated to maintaining a strong international presence and we see a great deal of opportunity for our business," said William P. Kupper Jr., President, BusinessWeek Group. "The enormous growth we have seen in Online suggests a great opportunity for BusinessWeek. By aligning our resources more strategically to those areas where we see the greatest demand, we can enhance BusinessWeek's growth prospects and expand our international presence in key markets."

• A single global edition of the print magazine will now serve readers and advertisers across North America, Europe, Asia, and other global markets. BusinessWeek will keep its network of international bureaus to maintain the breadth of its news coverage but will discontinue the European and Asian editions as of December 30.
• BusinessWeek will bolster its online coverage of global markets to provide more robust and timely news and information to its growing international online audience. Customized online editions for Europe and Asia will be created as well as vertical content areas such as business education, design and innovation, and small business. International visitors to BusinessWeek Online have nearly doubled in the past year and today represent approximately 25% of BusinessWeek Online's site visitors.
• BusinessWeek will continue developing regional partnerships to expand local language editions in key markets around the world. Demand for local language editions is strong. Currently, BusinessWeek publishes in the following countries: China, Poland, Indonesia, Russia and Turkey. The Arabic edition just launched in October 2005 and the Bulgarian and Romanian editions are scheduled to launch in the first quarter of 2006.

BusinessWeek is a leading global business media organization, providing unparalleled insight and analysis to a worldwide audience of business leaders. Founded in 1929 and published by The McGraw-Hill Companies, BusinessWeek magazine is the market leader, with more than 5.6 million readers each week in 140 countries. Local language editions include Chinese, Russian, Bahasa Indonesian, Polish, Turkish and Arabic. Launched in 1994, BusinessWeek Online is the preeminent provider of daily, essential business news, information, and services to business decision-makers. Reaching 80% of the nation's households, BusinessWeek Weekend delivers important business, consumer and financial news to television viewers every week.

SOURCE McGraw-Hill

CONTACT: Kimberley Quinn
Director, Communications, BusinessWeek
(212) 512-2882
kimberley_quinn@businessweek.com

Mary Skafidas
Senior Manager, Corporate Communications,
The McGraw-Hill Companies
(212) 512-2826
mary_skafidas@mcgraw-hill.com /
/Web site: http://www.mcgraw-hill.com /
(MHP)