Moguls meet

Steve Rattner was staging his annual off-the-record Quadrangle Conference for media moguls at the Pierre Hotel yesterday. Among the publishing luminaries who bumped into one another in the lobby: outgoing Time Inc. Editor in Chief Norm Pearlstine and high-tech publishing mogul Patrick McGovern. Shortly after they left, Eric Hippeau, the one-time Ziff Davis CEO, stopped to chat with McGovern, his one-time boss and then rival in the high-tech publishing world. Hippeau's currently a managing partner with Softbank Capital, the Japanese firm that at one time purchased Ziff-Davis from Bill Ziff and family for just over $1 billion.

McGovern is one of the richest people in publishing thanks to his International Data Group, one of the truly global publishing entities, with more than 155 titles worldwide. Today, he said, about 70 percent of the company's income is from print and about 30 percent online. "We expect that to reverse by 2008," he told Media Ink. Forbes lists his net worth as $2 billion, and he's spreading around his good fortune on philanthropy.

Source: New York Post

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