e.Republic (www.eRepublic.com), a leading media company focused on the state and local government and education markets, announced its agreement to acquire Governing (www.governing.com), the highly-respected magazine reaching top state and city government officials, from St. Petersburg-based Times Publishing Company.
JEGI CLARITY (www.jegiclarity.com) the leading independent investment bank for media, information, marketing services and related technologies, represented Times Publishing Company in this transaction and acted as its exclusive financial advisor.
“We are very pleased to welcome Governing to e.Republic,” said Paul Harney, Chief Operating Officer for the Sacramento, CA-based media company. “Our flagship Government Technology magazine has been published alongside Governing for over 20 years, and we have a high regard for Governing’s long history of editorial excellence,” Harney said. “Combined the two organizations create the largest media firm providing news, research and analysis of the $2.9 trillion state and local government market.”
“Times Publishing Company takes great pride in Governing, which we nurtured from its inception 22 years ago into the powerful brand it is today,” said Andrew Corty, Corporate Vice President, Times Publishing Company. “As part of this combination, Governing has a bright future educating and informing its senior-level readership across the nation.”
Governing will remain in its offices on Connecticut Avenue in Washington, D.C., under the leadership of publisher Fred Kuhn, though some operations will be combined with similar functions at e.Republic. “Our intention is to retain the current array of products, including the award-winning magazine, the web site, and well-known events, including the Public Official of the Year awards,” Harney said.
Each company has deep experience in chronicling how the public’s business gets done in states and localities. Stemming from its long affiliation with Congressional Quarterly, Governing’s focus is on providing factual, unbiased coverage on public policy, management and what federal actions mean for cities, counties and states. e.Republic has focused on the role technology plays in government transformation. An innovative media firm with award winning magazines and web sites, e.Republic is also home to the Center for Digital Government, a highly regarded research organization proving real-time intelligence and analysis on technology deployment and trends in state and local government.
“Governing plays an important role in informing and connecting America’s state and local leaders,” said Dennis McKenna, President and CEO of e.Republic. “Given the unprecedented challenges facing the country – growing unemployment, economic recession, failing infrastructure, healthcare reform, energy insecurity and a climate crisis – there has never been a more vital time for Governing.”
Both companies have approved the transaction, which is subject to customary closing conditions and is expected to close shortly after the Thanksgiving holiday.