Bloomberg decides to bid for BusinessWeek

To some observers of McGraw Hill's (MHP) efforts to sell BusinessWeek, Bloomberg LP always seemed to be a natural fit. Yet the financial information and news company founded by New York Mayor Michael Bloomberg never showed much interest -- until now.

Bloomberg is now "seen as the frontrunner" in an auction for BusinessWeek, according to the New York Post. Bloomberg will have to work "feverishly' to prepare a bid which is due September 15, the paper reported.