Aviation Week and Space Technology, the long time industry bible was sold by McGraw Hill to Penton Media. Penton is an aviation publisher with mags such as Air Transport World, Aircraft Bluebook, and Air Charter Guide. Let's hope this works out better than the Washington Post or Boston Globe sales.
Aviation Week is important because of it's savvy staff, who know aircraft, know flying, and know who to talk to in the Pentagon, in Congress, and in industry. No journalism majors at Aviation Week. They have an enviable record of revealing what's going on long before anyone else. It's read in the Air Force, in the airlines, at FAA, at intelligence agencies world wide, and in the airframe builders. It's a weekly magazine that costs real money ($375 a year) to subscribe to.
Gregory Hamilton, current head of Aviation Week will take over Penton's Aviation Group. It was an all cash deal, price not disclosed, and should have closed by the first of August.
I guess Mcgraw Hill's business magazine people just didn't understand anything that couldn't be expressed in an Excel spread sheet.
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