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Primedia's CEO and other senior managers buy company stock

Published on .

New York-It was announced Monday that Primedia Inc. Chairman-CEO Tom Rogers and other members of the company's senior management team bought shares of Primedia stock in late 2000 and early 2001. Through January 12, the company also purchased 316,500 shares of About Inc. common stock, which upon completion of Primedia's merger with About will translate into 740,895 shares of Primedia. In addition, Kohlberg, Kravis, Roberts & Co., the majority shareholder of Primedia, also purchased 2,532,199 shares of About stock during the same period, which will translate into 5,927,625 shares of Primedia after the merger is completed. Despite Primedia's aggressive and ongoing plan to meld its new-media properties to its traditional media products, the company's stock has dropped from a 52-week high of nearly $35 down to a low of $7.
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