Bloomberg Businessweek to Go monthly

Bloomberg Businessweek, a weekly magazine for 94 years, is published monthly, the company told employees on Thursday.

The magazine will be redesigned with “heavier paper stock for a more premium look and feel” and relaunched as a monthly print publication “later in 2024,” according to a memo from David Merritt and Katie Boyce, two leaders of Bloomberg’s media division . , which was viewed by The New York Times.

There was no indication in the memo that the Businessweek name would change.

“The market for a weekly news magazine has been challenging for some time,” the memo said. “But we see demand in both digital and print for the ambitious long-form journalism that Businessweek is now known for.”

Businessweek was a struggling brand when Bloomberg bought it in 2009. The company renamed the magazine Bloomberg Businessweek, and the bold and provocative covers created a wave of renewed interest. But it hasn’t avoided the persistent headwinds facing all print publications, including shrinking circulation and lower advertising revenue.

Mr. Merritt and Ms. Boyce said Bloomberg Businessweek reached “millions of new people every week” through Apple News+, a subscription offering that provides access to paywalled digital publications, “with revenue from that partnership helping offset declines in the print industry.” It will continue to publish content on Bloomberg.com and operate as a brand across audio, events and video.

Bloomberg Businessweek editor Joel Weber will take on a new role in the newsroom once his replacement is found, the note said.

Bloomberg LP, the parent company of the Bloomberg media business, gets the vast majority of its revenue from its subscription terminal service, which provides news and financial data. In recent years, the company has tried to attract a new audience of subscribers through its website and other digital products. In 2018 it added a paywall to Bloomberg.com, which has more than 500,000 paying digital subscribers.

Early next year, the company will introduce a weekend digital product with video, audio and long-form journalism and expanded cultural coverage, Thursday’s memo said.

Bloomberg Media CEO M. Scott Havens announced Monday that he would leave the organization, which he led since January 2022, to become CEO of the New York Mets. Karen Saltser, Bloomberg Media’s chief financial and operations director, was named interim director while a search for Mr. Haven’s replacement is conducted.