Times Mirror Co. said Tuesday that it has acquired the Washington-based government and political affairs weekly National Journal for an undisclosed sum.
Anthony Stout, one of the journal's original founders and its owner since 1975, sold Times Mirror his 80% interest in the publication. Times Mirror purchased the remaining 20% stake from Washington Post Co.
Times Mirror is a diversified media company that publishes a number of newspapers, including the Los Angeles Times.
The National Journal, which has a circulation of 5,000, is regarded as an influential publication on national politics and government. That reputation made it an attractive acquisition, Times Mirror Chairman Robert F. Erburu said in a statement.
Loyal Following in Washington
Although the National Journal costs $546 for an annual subscription and enjoys a loyal following among congressmen, White House aides and federal bureaucrats, it has lost money during most of its existence.