1105 Media to Acquire Post Newsweek Tech Media (posted 12/8)
1105 Media said Friday it will purchase Post Newsweek Tech Media from The Washington Post Co. The sale includes the Post Newsweek's four magazines Government Computer News, Defense Systems, Washington Technology and Government Leader, as well as its online products and FOSE trade show. Terms of the transaction were not disclosed.
Post Newsweek is a $40-million, Washington, D.C.-based company, which has made its mark in recent years as an editorial leader, with two Neal Awards this year and either a winner or a finalist in each of the last five years. Its former president David Greene left the company in March of this year after a five-year run. He was replaced by a three-person management team comprised of Tom Temin, to oversee editorial; Jeri Thorne, for operations; and Duncan Ballantine, for sales.
1105 Media, based in Chatsworth, California, was formed by Nautic Partners LLC, Alta Communications, and Neal Vitale in April of this year to acquire 101communications and Stevens Publishing.
"Although 1105 Media is a new company, we have deep roots in the government community through our publication Federal Computer Week (FCW) and its associated online products and vertical conferences," said Vitale, 1105's CEO, in a statement. "We believe this transaction will allow us to serve government readers and advertisers with more timely and targeted information."
The Post Newsweek Tech Group will be combined with 1105's FCW Media Group and renamed the 1105 Government Information Group. Anne Armstrong, currently publisher of 1105's FCW Media Group, will lead the group.
In late day trading Friday, Washington Post shares were up $5.54 to $735.38.
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