US media giant buys CPI for $5.5mn

by This email address is being protected from spam bots, you need Javascript enabled to view it on Thursday, 15 May 2008

Computer News Middle East will now be owned and run by IDG.

International Data Group (IDG), a $1.5 billion US media company, has bought its UAE franchise partner CPI IT for $5.5 million.

CPI was formed in 1991, and publishes a range of magazines for the Middle East IT community. The company also publishes OK magazine under licence.

Patrick McGovern, chairman of IDG Group, said that the company would acquire 90% of CPI IT immediately, and the remaining 10% in four to five years time.

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