Space News and, the 23-year-old weekly periodical and digital media of record for the civil, military and commercial space and satellite communications businesses, announced July 3 it has been sold by Imaginova Corp. to the newly formed entity Space News Inc. Space News will retain its current staff with Paul McPherson in the role of vice president and publisher, and Warren Ferster as editor.

Space News Inc. is backed by the investment group Pocket Ventures LLC, owned by seasoned print and digital media executives who have successfully transformed traditional print media to integrated models, including the brands of their former portfolio company, Inside Communications.

Pocket Ventures intends to leverage the publication’s longtime leadership position in space journalism into more vigorous digital efforts. “Space News as the only weekly exclusively covering space issues has a clear world-wide leadership position in print,” said Space News Inc. Chairman Felix Magowan, “and we intend to build upon that by investing in various digital enhancements, including a radically redesigned and updated website, e-newsletters, microsites and apps. These digital investments are necessary to better support the evolving needs of the key decision-makers who drive the space business around the globe. The space industry can be assured that we are responsible, long-term media investors who have the highest regard for Space News’ editorial quality and intend to uphold that tradition.”

McPherson said: “We are really excited by the prospect of teaming up with Pocket Ventures. They ‘get’ the future direction of media while still being in love with print. And they have a healthy respect and admiration for the space business.”

Ferster added: “The sale bodes well for the future of Space News. The new owners have a vision and a solid track record of leveraging the best of what print and digital media have to offer to create a stronger overall product.”

Founded in 1989 and published 49 times a year and daily at, Space News is the bible of the aerospace industry, giving readers news and information they require and marketers a venue to speak to true decision makers in the industry. It counts among its 45,000 readers in 50 countries and 75,000 unique monthly visitors a literal who’s who of key decision- makers in the $100 billion space business. Space News is available by subscription for $209 per year.

Based in Boulder, Colo., Pocket Ventures is a media, information and event acquisition group making control investments in profitable, small to middle-market consumer and B2B brands in the outdoor, sports, environmental and technology arenas that have a digital upside.