The company’s EBITDA (earnings before interest, taxes, depreciation and amortization) increased 3.3% to $260.0 million, from $251.6 million. Excluding the results from About.com, which Primedia has agreed to sell to the New York Times Co., Primedia’s revenue climbed 0.2% last year to $1.271 billion and total EBITDA declined 2.6%.
"The sale of About.com is a significant delevering transaction that strengthens Primedia’s balance sheets and increases free cash flow," Kelly Conlin, Primedia’s president-CEO, said in a statement.
Primedia's business information unit logged fourth-quarter revenue of $63.2 million, up from $60.1 million in the year-earlier period. It was the third consecutive quarter of revenue gains for the unit. The business information unit increased EBITDA by 6.6% for the year, but the unit’s EBITDA for the fourth quarter decreased by 2.9%.