Michael Reinstein, chairman and founder of private equity firm Regent, which recently bought TechCrunch, writes that the tech news site is not pulling out of Europe despite widespread layoffs to its staff there.
Reinstein writes, “The recent changes at TechCrunch are not about retreat. They are about realignment and reinforcement. This new chapter is fueled by our partnership with our sister company, Foundry, which was brought under the same ownership to create a tech media entity with unparalleled global scope.
“To be clear, Foundry is a powerhouse of international technology journalism. Its portfolio includes established and respected brands like PCWorld, Macworld, CIO, and TechAdvisor, with a vast network of journalists and deep-rooted expertise in local and regional tech ecosystems across Europe and the world.
“The suggestion that our new ownership believes international coverage is unessential is patently false. The entire purpose of bringing TechCrunch and Foundry together is to create a stronger, more globally focused media platform.”
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