PostNewsweek Tech Media to be sold to parent of FCW Media Group
The Washington Post Co. announced it has signed an agreement to sell Government Computer News, Washington Technology, FOSE, Defense Systems, Government Leader and their associated Web sites and assets to 1105 Media, the same company that bought Federal Computer Week earlier this year.
'Although 1105 Media is a new company, we have deep roots in the government community through our publication Federal Computer Week and its associated online products and vertical conferences,' said Neal Vitale, president and chief executive officer of 1105 Media, in a statement. 'We deeply respect the long history of service that GCN, Washington Technology and FOSE have provided to this market, and we expect that to continue and to grow.'
FCW Media Group's name will be changed to 1105 Government Information Group and will be led by Anne Armstrong, currently publisher of FCW Media Group. Thomas R. Temin, executive vice president and editor-in-chief of the PostNewsweek Tech Media unit, and of GCN for 15 years, will not be joining 1105 Media. Staffs for both organizations were informed of the agreement Dec. 8. Financial terms of the deal were not released and transition plans are still being worked out.
'We believe this new organization combines two powerful and experienced news and technology reporting teams,' Armstrong said. 'We look forward to growing our coverage and offering even more information on the quickly changing technology environment, as well as on the policy and procurement regulations that drive acquisition in the government community.'
'Deciding to sell was tough for all of us at the Washington Post Co. because of the pride and pleasure we've had in owning these excellent products for nearly a decade,' said Ann McDaniel, vice president of the Washington Post Co. 'Customers, readers and advertisers will benefit from their strong commitment to the government marketplace.'
The deal is expected to close at the end of this month.