A spokesperson for Primedia declined to comment on the reports, and phone calls to PBI Media and Veronis, Suhler, Stevenson, the media merchant bank that owns the Potomac, Md.-based company, were not immediately returned.
A member of Cable Worldâs, editorial staff said the deal had not been finalized and that the rumors were a distraction internally. âWeâre trying to put a magazine out this week,â the staff member said.
Industry observers said the deal, if it closes, would make sense. Primedia has been shedding non-core assets--it recently sold Simba, another property in its media stable--and PBI Media is looking to boost its broadband unit, which is anchored by "CableFAX," a daily newsletter.
âIt would be a good sign for PBI that theyâre acquiring again,â said Reed Phillips, managing partner at media investment bank DeSilva & Phillips.