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Primedia to sell Business Information unit to Wasserstein partnership

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New York —Primedia Inc. announced plans to sell its Business Information unitt to PBI Media Holdings for $385 million in cash.

PBI Media Holdings is controlled by Wasserstein & Co. through its U.S. Equity Partners II investment partnership.

In a statement announcing the deal, Primedia President-CEO Kelly Conlin said the sale will allow Primedia to focus on segments of its business that can provide long-term value creation, including Enthusiast Media and Consumer Guides.

The Business Information segment consists of 70 publications, more than 100 Web sites, 25 events, and 50 directories and data products. In 2004, the Business Information segment generated $224.8 million in revenue.

The Ward’s business unit is not included in the transaction.

—Kate Maddox

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