AP Acquires Web-Based News Service

AP Acquires Web-Based News Service
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Associated Press has picked up Capitol Wire, which operates a subscription Web site providing news from state capitals in Pennsylvania, New York, New Jersey, Ohio and Virginia. Terms of the asset purchase agreement were not disclosed.
The site serves subscribers affected by state legislation, regulations or contract bids in various industries. AP said the deal strengthens its offerings in regional markets for government and corporate information.
Louis D. Boccardi, president and CEO of AP, said, "We are already in the business of licensing certain content to corporate and government customers and this acquisition provides a sound base to extend our reach in that growing market."
Peter J. Shelly, a founder, stays with the company, which was begun in 1998 and is headquartered in Middletown, Pa.

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