International Data Group is reportedly in acquisition talks with a Chinese consortium to sell-off the American media's media assets.
IDG is the owner of many well-known media, including PCWorld, and the market research firm IDC.
The leader of the consortium is Xiong Xiaoge, chairman of IDG Greater China. However, the identify of other investors and the detailed trading scale are not available.
An insider revealed to lcoal Chines media that as a private company, IDG hopes to gain a valuation between USD500 million and USD1 billion. The insider also said that the negotiation is at the initial stage and it is unclear if a final agreement can be achieved.
Founded in 1964 and headquartered in Framingham, Massachusetts, IDG is one of the largest B2B and trade publishers in the world. It owns hundreds of technology industrial websites and magazines. The company started business in China early in 1980 and published China Computerworld.