Bloomberg L.P. has completed the acquisition of BusinessWeek from The McGraw-Hill Companies (NYSE MHP). The McGraw-Hill Companies expect to receive a gain of $9.3 million before tax from the sale, or about 2 cents per share, in their fourth quarter 2009 results. This transaction will give The McGraw-Hill Companies additional resources to further enhance the size, scale and global presence of their leading brands worldwide.
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About The McGraw-Hill Companies:
Founded in 1888, The McGraw-Hill Companies is a leading global company in the financial services, business intelligence and education markets with leading brands such as Standard & Poor's, McGraw-Hill Education, Platts, Capital IQ, J.D. Power and Associates, McGraw-Hill Construction and Aviation Week. The Corporation has more than 280 offices in 40 countries. Sales in 2008 were $6.4 billion.
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