Investors ink deal for VeloNews, parent company
The owners of VeloNews have entered into an agreement for the sale of the magazine, its website and parent company, Inside Communications Inc., to Competitor Group Inc., a recently formed private equity-financed media company based in San Diego, California. The deal, announced to staff on Friday, is intended to add needed financial clout to VeloNews and other ICI divisions, including VeloPress, VeloGear, VeloSwap and Inside Triathlon magazine.