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With business publications suffering from scarce advertising, McGraw-Hill has hired Evercore Partners to sell its BusinessWeek, The New York Times's Richard Pérez-Peña reported, citing a person briefed on the plans.

Analysts, however, questioned how much interest there would be.

The plan to sell, rumored for months, was reported on Monday by Bloomberg News and confirmed by The Times. The McGraw-Hill Companies and Evercore, a boutique investment banking firm, declined to comment, the newspaper said.