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Reports say PBI to buy Primedia's 'Cable World'

Published on .

New York--Rumors are swirling in published reports that Primedia Business Magazines & Media is preparing to sell Cable World to PBI Media.

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 World’s, editorial staff said the deal had not been finalized and that the rumors were a distraction internally. “We’re trying to put a magazine out this week,” 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.

“It would be a good sign for PBI that they’re acquiring again,” said Reed Phillips, managing partner at media investment bank DeSilva & Phillips.

--Sean Callahan

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