Ziff-Davis, the US publisher of computer magazines, newspapers and books, is to be acquired by Forstmann Little, a New York investment firm, for $1.4bn (£857m) in cash.
The sale of Ziff-Davis has attracted interest because Ziff is heavily involved with the new multimedia market, including computer on-line publishing and CD-Rom titles. Reed Elsevier, Time Warner and Bertelsmann AG were all interested in bidding for the company.
Ziff’s titles, which are mostly computer trade magazines, include PC Magazine. The new owners, Forstmann have promised to invest over $900m in Ziff-Davis.
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