More Publishing News

It looks like Business Week is for sale at a bargain basement price. The Deal is reporting that it may be priced for as little as $1.00 – that’s right, one single, lonely dollar (plus the assumption of debt which is likely a rather large number).

Even at this price, it seems unlikely that there will be many bidders. It’s quite surprising to see an icon like this hit so hard, but the growth from magazines like Fast Company and The Economist (two of the only magazines to show any advertising growth last year according to The Project for Excellence in Journalism) had to come from somewhere. The pie of advertising dollars is clearly shrinking and it does not seem to be slowing down any time soon.

In times like this it definately pays to be a lean organization.