(Photo via Twitter)
FiscalNote is making a move into media.
The D.C.–based startup announced plans to acquire news organization CQ Roll Call from The Economist Group. Terms of the deal were not disclosed.
With the deal, The Economist Group will receive an 18 percent stake in the combined company, to make it the largest shareholder. FiscalNote CEO Tim Hwang would remain the largest individual shareholder, according to the companies.
Known for news and analysis, CQ Roll Call was formed in a 2009 merger of two publications with long histories in D.C. media circles.
Five-year-old FiscalNote makes a data platform that helps government and business clients track legislation and regulations. With the acquisition, FiscalNote is looking to add CQ Roll Call’s editorial expertise, as well as advocacy resources. Details haven’t yet emerged about a combined offering.
“We value editorial integrity above all else,” Chris Stibbs, CEO at @TheEconomist said… "We would not consider a transaction with anybody, in any part of our business if we did not believe they would uphold those values." We couldn't have said it better!https://t.co/BsBJg6xPL7
— FiscalNote (@FiscalNote) July 25, 2018
“We are excited to provide our clients with greater access to enhanced products that will inform their decision making and maximize their influence on government as they tackle the challenging issues impacting their business,” Hwang said in a statement.
It’s just the latest acquisition over the last year for FiscalNote, which also bought grassroots platform VoterVoice in 2017, then added European Union–focused issue tracking company Shungham to kick off 2018. In D.C., the company moved into a new headquarters.
The acquisition is expected to close later this year.
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