Primedia 

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PRIMEDIA Inc., NYSE: PRM, formerly known as K-III Communications, is the #1 print and online publisher and distributor of advertising-supported consumer guides in the U.S. through its Consumer Source Inc operation. It is publicly owned, trading on the New York Stock Exchange with private equity giant KKR holding a controlling stake in the company.

Consumer Source publishes and distributes more than 38 million guides and magazines – such as Apartment Guide, Auto Guide and New Home Guide – to approximately 60,000 U.S. locations each year through its proprietary distribution network, DistribuTech. The company also distributes category-specific content on its leading Web sites, including ApartmentGuide.com, AutoGuide.com, NewHomeGuide.com and Rentals.com, a comprehensive single unit real estate rental site.

Bill Reilly left Macmillan to become president and chief executive of K-III Holdings, in which the private equity firm of Kohlberg Kravis Roberts held a 75% ownership stake.1

The company made a series of acquisitions of niche publications under Reilly's leadership. The firm went public in 1995, selling stock 15 million shares at approximately $12 per share, in a deal that left Kohlberg Kravis Roberts with control of 82.2% of the company's shares.2 The firm adopted the Primedia name as of November 18, 1997 to more clearly focus on its core business.3 Primedia sold a group of 17 outdoor-oriented magazines to InterMedia Outdoors for $170 million in cash, in a deal that included Guns and Ammo and Fly Fisherman.4 Primedia sold its Enthusiast Media division to Source Interlink in a deal that netted Primedia $1.15 billion in cash in exchange for a group of more than 70 magazines, including Motor Trend and Soap Opera Digest and 90 consumer web sites. The deal left Primedia to focus on a series of free consumer guides published by its Consumer Source unit.5

Contents

Timeline

Former Major PRIMEDIA Titles (magazines are now part of Source Interlink)

as well as Automotive.com, Intellichoice.com web sites

PRIMEDIA Equestrian Group

PRIMEDIA Action Sports Group

References

  1. ^ McDowell, Edwin. "BUSINESS PEOPLE; Changes at Macmillan Follow Officer's Move", The New York Times, March 19, 1990. Accessed October 23, 2008.
  2. ^ via Reuters. "K-III's Initial Stock Offering", The New York Times, October 7, 1995. Accessed October 23, 2008.
  3. ^ Staff. "K-III's New Name To Be 'Primedia'", The New York Times, November 1, 1997. Accessed October 23, 2008.
  4. ^ Sorkin, Andrew Ross. "InterMedia to Buy Primedia’s Outdoor Magazines", The New York Times, December 7, 2006. Accessed October 23, 2008.
  5. ^ via Reuters. "Magazine Publisher Is Selling Special-Interest Unit for $1.15 Billion", The New York Times, May 15, 2007. Accessed October 23, 2008.
  6. ^ "Primedia Business Information Profile". Media Owners. Retrieved on 2007-02-16.
  7. ^ "Burkle's Source Agrees to Buy PRIMEDIA Magazine Group".

External links