PCWorld owner purchased by Chinese

PCWorld PCWorld International Data Group, the owner of PCWorld magazine and market researcher IDC, on Thursday said it was being acquired by China Oceanwide Holdings Group and IDG Capital, reports Liana B. Baker of Reuters.

Baker writes, “IDG will add to its media holdings in China including the Economic Observer, a business newspaper and a performance theater in Xi’an, Oceanwide director Brett Liu said.

“IDG’s headquarters will remain in Boston.

“Both Oceanwide and IDG Capital had initially bid separately for the entire company last April before IDG’s banker Goldman Sachs suggested they team up, IDG Chairman Walter Boyd said.

“Oceanwide will now become the controlling shareholder in IDG’s operating businesses with Shong’s IDG Capital taking a minority stake. IDG Capital will take the majority stake in the IDG venture businesses.”

Read more here.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.