Lebhar-Friedman Inc. to sell 'NRN' to Penton Media, other properties to private equity fund

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New York—B-to-b media company Lebhar-Friedman Inc. told employees Friday that the company has agreed to sell its flagship property, Nation's Restaurant News, and the remaining properties it acquired from Dowden Health Media in 2005, numerous sources have told BtoB.

Sources say that Penton Media is the buyer of NRN. An unidentified private equity fund is said to be the buyer of the former Dowden properties.

Randall Friedman, publisher of NRN, declined to comment when reached by phone Friday. A Penton spokesperson declined comment on Thursday.

Sources say that Lebhar-Friedman will continue to operate its retail properties, which include Chain Store Age and Drug Store News. Industry observers say that Lebhar-Friedman was pushed to sell the properties by its bank, GE Capital, due to the debt load incurred by the Dowden transaction. Lebhar-Friedman sold Dowden Professional Publications last year to Quadrant HealthCom.

A formal announcement of the deals is expected next week.

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