The owner of PCWorld and other publications is in talks to sell to Chinese investors for more than $1 billion, reports Liana B. Baker of Reuters.
Baker writes, “While the parties are in advanced discussions, no deal is finalized and talks could fall apart at any time, the people cautioned.
“IDG, based in Framingham, Massachusetts, declined to comment. Shong could not immediately be reached for comment.
“Founded in 1964, IDG has grown to be one of the largest global trade publishers, with hundreds of tech-focused websites and magazines. Its charismatic founder and longtime CEO, Pat McGovern, died two years ago.
“McGovern was very early to see the importance of China, and IDG has been doing business there since 1980, when it launched ComputerWorld China.
“IDG has traditionally pursued a licensing model in which overseas publishing partners have broad latitude in what type of content they produce. That, in addition to IDG’s focus on business rather than politics, helped the company get an early foothold in China and steer clear of press restrictions.”
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