BusinessWeek Editor-in-Chief Steven Adler sent a “keep your chins up” memo to staffers on Sunday, as hopeful staffers speculated that the McGraw-Hill Cos. board had met to accept an offer from Mike Bloomberg’s Bloomberg LP to purchase the struggling weekly.
“Thanks for continuing to do great work, week after week, despite all the uncertainty, distractions and frequently ridiculous rumors you’ve had to handle,” Adler’s memo said.
Late yesterday, a source said the board has yet to meet to consider the Bloomberg offer or any other offer. The board is not expected to meet in the next few days.
Many top Bloomberg execs, including Chief Content Officer Norman Pearlstine, who was quarterbacking the deal were celebrating Yom Kippur yesterday.
McGraw-Hill put the magazine and its related properties on the block in July. On Sept. 10, Bloomberg suddenly reentered the bidding just days before the deadline.