Computerworld announced that “tech journalism pioneer International Data Group [IDG], publisher of Computerworld, PCWorld and hundreds of other tech publications worldwide” is being acquired by China Oceanwide for a price of “less than $1 billion.” The January 19, 2017 report entitled “China Oceanwide, IDG Capital to acquire Computerworld-parent IDG” included this background about “IDG, a privately held company, operates in 97 countries. It was founded in 1964” and IDG is also the parent company of the IDG News Service and the IDG brands include, without limitation:
- Network World, and
The purchaser China Oceanwide:
…is a privately held international conglomerate founded by Chairman Zhiqiang Lu in 1985. The company operates businesses in the financial services, real estate assets, media, technology, and strategic investment markets, and it has more than 12,000 employees globally.
Such a purchase required US governmental approval which has already completed:
The deal, expected to close in the first quarter of this year, has received approval from the Committee on Foreign Investment in the United States (CFIUS), a U.S. government body, the companies said.
Should you be concerned about China controlling cyber and IT news?