BusinessWeek Thinks Bloomberg Is Best Fit

NEW YORK (

TheStreet

) --

BusinessWeek

executives think

Bloomberg LP

would be the best fit for the struggling magazine and parent

McGraw-Hill

(MHP)

apparently agrees.

McGraw-Hill is leaning toward selling

BusinessWeek

to Bloomberg, although another bidder could emerge with a higher offer,

Reuters

reports, citing a person familiar with the matter.

Any deal still could take weeks or fall apart because of depressed magazine advertising and uncertainty in the financing market, according to

Reuters

. A price for

BusinessWeek

couldn't be learned.

Private-equity firms OpenGate Capital and Platinum Equity are part of the bidding, as is ZelnickMedia, the investment firm owned by

Take-Two Interactive

(TTWO) - Get Report

Chairman Strauss Zelnick.

McGraw-Hill considers news and financial data company Bloomberg as the best buyer for

BusinessWeek

because the two names are well-known financial media outlets,

Reuters

notes.

-- Reported by Joseph Woelfel in New York

.

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