BOSTON HERALD, Jan 9 2016. International Data Group, the Boston information technology media, events and research giant, has hired an investment bank to explore “strategic options,” including a sale.
The announcement by the publisher of tech titles, including PCWorld, and CIO and producer of conferences such as Demo and MacWorld, comes nearly two years after founder and chairman Patrick McGovern’s death.
At that time, ownership of IDG — the 112th largest private U.S. company with $3.8 billion in revenue — transferred to the McGovern estate for the benefit of the McGovern Foundation, which focuses on neuroscience and IT “for the benefit of humanity.”
“In response to certain operating requirements of the foundation, IDG’s board of directors has retained Goldman Sachs to map out the company’s strategic options” spokesman Josh London said. “Our goal is to determine the optimal future balance between what’s best for IDG and Pat McGovern’s mission for the foundation.”
McGovern started IDG in 1964 and launched Computerworld, its first publication, in 1967. IDG since has grown worldwide to 460 websites, 200 mobile sites and apps, and 179 print titles. It produces 700-plus events in 67 countries, and its International Data Corp. subsidiary provides market research.
Media industry adviser Peter Kreisky [fusion_builder_container hundred_percent=”yes” overflow=”visible”][fusion_builder_row][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”][describes IDG as] a “jewel,” with subsidiaries around the world and IDG Ventures, a global network of venture capital funds with a large China presence, noted Kreisky, chairman of Kreisky Media Consultancy in New York.
“It’s an extremely well-run company with a great business strategy, and they’ve made a very impressive transformation from print, which is their history, to digital — very profitably, too,” he said. “There’s some big players out there who might find it very attractive.”
Buyers could include Reed Elsevier PLC, Axel Springer SE, Hearst Corp. and Nikkei Inc., he said.[/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]