eBook Blog TeleRead Purchased by North American Publishing Company

The digital book reporting website TeleRead was purchased by the Gadgetell subsidiary of the North American Publishing Company (NAPCO) today–big news for the world of eBook news.

Editor David Rothman reports that he will be leaving his role as editor and publisher, but his co-editor Paul Biba will take over as editor. In addition, senior writer Chris Meadows will also remain with the blog. NAPCO has been in business since 1958, running 16 magazines in addition to such online enterprises as email newsletters and the Gadgetell tech blog.

Here’s more about the sale, from Rothman: “Our sale to NAPCO happened for several reasons. We needed more resources to survive the remainder of this recession and compete with the growing number of other e-book-related sites. Also, I suffered a heart attack in 2008 and prefer to spend my mornings–when I’m at my freshest–on walking and other cardio-exercise rather than reading RSS feeds.”

UPDATED: Complete press release embedded, after the jump.

TeleRead Sale: Press Release

Launch a social media campaign that will build your brand and deliver results in our online Social Media Marketing Boot Camp starting June 7. Speakers include Abigail Cusick (Bravo Digital), Gregory Galant (Sawhorse Media), Alex Leo (Thomson Reuters Digital), Jim Tobin (Ignite Social Media), and many more. Read the reviews.