McGraw Hill expects a $0.02 per share gain when the sale of BusinessWeek closes in Q4, the company said in its Q3 earnings report. That amounts to $9.3 million before taxes and $5.9 million after taxes from Bloomberg taking the publication off its hands. Earlier this month, Bloomberg’s purchase of BusinessWeek was estimated to be somewhere between $2 million and $5 million, including liabilities. Separately, McGraw Hill pointed to dismal ad-page numbers at BusinessWeek, citing Publishers Information Bureau, which said the magazine’s global edition decreased by 29.3 percent in Q3.
Earnings release | Webcast (8:30 AM EDT)
| 3Q 2009 | 3Q 2008 | Estimate | |
|---|---|---|---|
| EPS | $1.07 | $1.23 | $1.05 |
| Net Income | $336.1M | $390.2M | NA |
| Revenue | $1.88B | $2.04B | $1.94B |
For the Business-to-Business Group in all, revenue fell 8.7 percent to $219.8 million. Energy business mag Platts was the only bright spot in the segment, which besides BusinessWeek, includes Aviation Week, J.D. Power and Associates and McGraw-Hill (NYSE: MHP) Construction.

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