Founded in 2012 by entrepreneur Anne Dias, Reboot has quickly grown into Illinois’ top digital hub for political news, infographics and opinions, the company said in a release announcing the acquisition.
Dias, who is also a founder of Chicago-based hedge fund Aragon Global Management, says Reboot's new owner shares her belief in a strong, independent press shining light on government affairs.
"In this time of upheaval in Illinois -- both financially for many press outfits and politically with our state budget -- the need for a strong and independent press is greater than ever," Dias said in a statement. "This is the right time for a new ownership team to take Reboot to the next level."
Anthony Knierim, one of AFK's partners, who helped launch Reboot as its director of digital strategy, will join Reboot's board of directors. AFK plans to take the platform "to the next level," he said in a statement.
"Reboot has created a great critical mass of engaged citizens and lawmakers who are active participants in the political process and debate," Knierim said. "Our growth plans involve expanding Reboot’s content, its technology capabilities and its team of writers, building on the data-driven and strong editorial foundations of the business."
As part of the transaction, which takes effect on March 15, Doubek will take over as Reboot’s publisher and Dietrich will become editor.
"Madeleine and Matt have led Reboot to decode what is happening in Springfield and how it affects all of us," Dias said. "Their coverage of Illinois politics has been shrewd and fair-minded."
According to its website, Reboot aims to "encourage citizens to retake ownership of our governments" and engage citizens by "giving them the information and tools they need to act on improving the jobs climate, schools, taxes, and state debt."
The company has more than 115,000 Facebook fans and averages nearly 600,000 page views per month. Terms of the deal were not disclosed.