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Primedia adds alliances, reports earnings

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New York-based Primedia said Tuesday it has signed ad-for-equity deals with or made investments in eight new ventures, including several b-to-b properties. Primedia, the targeted-media giant, also announced revenue of $404.5 million and a net loss of $39.4 million for the first quarter ended March 31, compared with revenue of $411.1 million and a net loss of $46 million a year earlier. Internet revenue for the New York-based company surged 87% year-over-year. Primedia said it has entered into ad-for-equity deals with construction-equipment marketplace ProfessionalBuyer.com, experts online site Umagic and pork-industry portal MetaFarms. PRIMEDIA Ventures took stakes in mobile communications site MobileSpring, streaming b-to-b media service NextVenue and request-for-quote site Perfect.com.
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