The Times Publishing Co., parent company of the St. Petersburg Times, has agreed to sell Governing magazine to a California media company.
Governing has operated out of Washington, D.C., since its beginnings in 1987. It covers local and state government. The buyer is e.Republic, based in Sacramento.
The purchase will close the week after Thanksgiving for a price neither side would disclose.
E.Republic was chosen from among six bidders for the magazine, said Andrew Corty, corporate vice president of Times Publishing.
This will be the third Washington affiliate Times Publishing has sold in the last two years. In July, it sold Congressional Quarterly, a profitable D.C.-based publication, to British-owned Roll Call. Last year, Times Publishing sold CQ's books division, CQ Press, to Sage Publications of Thousand Oaks, Calif.
Times Publishing will pour money from the sales into strengthening its other brands. They include the St. Petersburg Times, tbt*/Tampa Bay Times, Florida Trend and PolitiFact.com.
"We're divesting our Washington, D.C., properties and putting the investment into the newspapers in the Tampa Bay market," Corty said.
E.Republic publishes Government Technology magazine and considers Governing a natural media partner.
"Our flagship Government Technology magazine has published alongside Governing for over 20 years," chief operating officer Paul 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."
Several of the principals of e.Republic are members of the Church of Scientology. The St. Petersburg Times has run a recent series of stories critical of the organization. In the sale of Governing, Times officials drew a distinction between the church itself and those who practice Scientology.