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*2007 - Sold Enthusiast Media group (containing the vast majority of PRIMEDIA's magazines) to [[Source Interlink]] for $1.2 billion.<ref>{{cite web|url=http://www.bloomberg.com/apps/news?pid=20601087&sid=arWEU5f1k5Ow&refer=home|title=Burkle's Source Agrees to Buy PRIMEDIA Magazine Group }}</ref> |
*2007 - Sold Enthusiast Media group (containing the vast majority of PRIMEDIA's magazines) to [[Source Interlink]] for $1.2 billion.<ref>{{cite web|url=http://www.bloomberg.com/apps/news?pid=20601087&sid=arWEU5f1k5Ow&refer=home|title=Burkle's Source Agrees to Buy PRIMEDIA Magazine Group }}</ref> |
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*2007 - Sold [[Channel One News]] to Alloy Media and Marketing |
*2007 - Sold [[Channel One News]] to Alloy Media and Marketing |
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*2008 - Sold [[South Florida Auto Guide]] and [[Wisconsin Auto Guide]] to TargetMedia Partners; closes [[Atlanta Auto Guide]] |
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==Former Major PRIMEDIA Titles (magazines are now part of [[Source Interlink]])== |
==Former Major PRIMEDIA Titles (magazines are now part of [[Source Interlink]])== |
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Revision as of 19:18, 27 February 2009
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 Kohlberg Kravis Roberts holding a controlling stake in the company.
Consumer Source publishes and distributes more than 38 million guides and magazines – such as Apartment Guide, New Home Guide and Today's Custom Home – 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, NewHomeGuide.com, TodaysCustomHome.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]
Timeline
- 1989 - Founded as K-III Communications, a new venture financed by the investment group Kohlberg, Kravis, Roberts and Co.
- 1994 - Acquired Haas Publishing, now Consumer Source Inc
- 1995 - Went public
- 1997 - Changed name to PRIMEDIA Inc.
- 1998 - Controlling share acquired by KKR
- 2005 - Sold business information segment (ex-Intertec[6]) to private investors Wasserstein & Co.
- 2006 - Sold Crafts Group to Sandler Capital Management and Outdoor Group to InterMedia
- 2007 - Sold Enthusiast Media group (containing the vast majority of PRIMEDIA's magazines) to Source Interlink for $1.2 billion.[7]
- 2007 - Sold Channel One News to Alloy Media and Marketing
- 2008 - Sold South Florida Auto Guide and Wisconsin Auto Guide to TargetMedia Partners; closes Atlanta Auto Guide
Former Major PRIMEDIA Titles (magazines are now part of Source Interlink)
- 4 Wheel Drive & Sport Utility Magazine
- Automobile Magazine
- Car Craft
- Dirt Rider
- Four Wheeler
- Home Theater
- Hot Bike
- Hot Rod Magazine
- JP Magazine
- Lowrider Magazine
- Mini Truckin Magazine
- Modified Magazine
- Mopar Muscle Magazine
- Motorcyclist
- Motor Trend
- Mustang Monthly
- Peterson's 4-Wheel & Off Road
- Power & Motoryacht
- Sail Magazine
- SLAM Magazine
- Soap Opera Digest
- Soap Opera Weekly
- Sport Compact Car
- Stereophile
- Super Street
- Truckin Magazine
- Truck Trend
- Sport Truck
as well as Automotive.com, Intellichoice.com web sites
PRIMEDIA Equestrian Group
PRIMEDIA Action Sports Group
- Bike Magazine
- Canoe & Kayak Magazine
- Powder Magazine
- Skateboarder Magazine
- Slam Magazine
- Snowboarder Magazine
- Surfer
- Surfing Magazine
References
- ^ McDowell, Edwin. "BUSINESS PEOPLE; Changes at Macmillan Follow Officer's Move", The New York Times, March 19, 1990. Accessed October 23, 2008.
- ^ via Reuters. "K-III's Initial Stock Offering", The New York Times, October 7, 1995. Accessed October 23, 2008.
- ^ Staff. "K-III's New Name To Be 'Primedia'", The New York Times, November 1, 1997. Accessed October 23, 2008.
- ^ Sorkin, Andrew Ross. "InterMedia to Buy Primedia’s Outdoor Magazines", The New York Times, December 7, 2006. Accessed October 23, 2008.
- ^ via Reuters. "Magazine Publisher Is Selling Special-Interest Unit for $1.15 Billion", The New York Times, May 15, 2007. Accessed October 23, 2008.
- ^ "Primedia Business Information Profile". Media Owners. Retrieved 2007-02-16.
- ^ "Burkle's Source Agrees to Buy PRIMEDIA Magazine Group".