Economist Group's Roll Call to acquire Congressional Quarterly

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Washington, D.C.—Roll Call Group, which is owned by the Economist Group, announced Tuesday it has agreed to acquire Congressional Quarterly from Times Publishing Co.

The new company will be known as the CQ-Roll Call Group. Financial terms of the deal, which is expected to close in the current quarter, were not disclosed.

Laurie Battaglia, currently exec VP-managing director of Roll Call Group, will lead the new enterprise. Bob Merry, president of Congressional Quarterly, will not be employed by the merged company.

“As in many such instances of two companies coming together, one CEO inevitably becomes extraneous. In this situation, that's me,” Merry said in a statement.

Roll Call Group reportedly won the auction for CQ over Bloomberg, Washington Post Co., Atlantic Media (owner of CQ's chief competitor, The National Journal) and Allbritton Communications (owner of Politico).

Mike Marchesano, managing director of Jordan, Edmiston Group, an investment bank representing Times Publishing in the deal, declined to identify other bidders, but said, “It was a very full auction.”

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