The McGraw-Hill Companies Signs Agreement to Sell BusinessWeek to Bloomberg L.P.

Corporation Continues Growth Strategy Focused on Expanding Global Presence and Digital Capabilities in Fast-Growing Markets

Source: McGraw-Hill -- Graphic Arts Online, October 13, 2009

NEW YORK, Oct. 13 -- The McGraw-Hill Companies (NYSE: MHP) today announced it has agreed to sell BusinessWeek to Bloomberg L.P. The transaction is expected to close during the fourth quarter of 2009. Terms of the agreement were not disclosed.

"I am very proud of the tremendous contributions BusinessWeek has made to The McGraw-Hill Companies throughout its rich history. It is a truly outstanding franchise and the best source of business reporting in the world," said Harold McGraw III, chairman, president and chief executive officer of The McGraw-Hill Companies. "We are pleased that we have reached an agreement for BusinessWeek to be acquired by Bloomberg, which shares the same high standards for editorial independence, integrity and excellence that have long defined BusinessWeek."

"BusinessWeek will be a powerful addition to our portfolio of leading news and information services," said Peter T. Grauer, chairman of Bloomberg L.P. "BusinessWeek is one of the business world's most recognized and trusted sources of news and insight, and we believe that it will be highly valued by our customers worldwide."

The transaction will enable The McGraw-Hill Companies to continue focusing resources on building the size, scale and global presence of its leading brands across fast-growing worldwide markets in financial services, education and business information.

About The McGraw-Hill Companies:

Founded in 1888, The McGraw-Hill Companies is a leading global information services provider meeting worldwide needs in the financial services, business intelligence and education markets through 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. Additional information is available at www.mcgraw-hill.com.