Washington Post Co. has agreed to sell PostNewsweek Tech Media, its portfolio of technology magazines, to 1105 Media of Chatsworth for an undisclosed amount, acknowledging that the business-to-business venture no longer fits the company's strategy.
The magazines include Government Computer News, Washington Technology, Government Leader and Defense Systems. Also included is FOSE, the annual information technology convention put on by PostNewsweek Tech Media.
"Unfortunately, we could never seem to make the business work," said John Morse, The Post Co.'s chief financial officer. All of Post Co.'s other media assets are consumer-oriented.
The company acquired the magazines in the 1990s at the height of the Internet boom in a bid to aggregate readership and advertising dollars in the Washington technology community.