Time Inc., IDG buy assets of Standard Media

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San Francisco--Most of the remaining assets of Standard Media International, publisher of the defunct The Industry Standard, were purchased Monday by Time Inc. and International Data Group, the one-time majority investor in Standard Media. In federal bankruptcy court Time Inc., a subsidiary of AOL Time Warner Inc., agreed to buy the paid subscriber list of The Industry Standard for $500,000, including the assumption of subscription liabilities of $2.2 million to $2.5 million. Most of the remaining assets were acquired by IDG, which agreed to pay $900,000 for the company's Web site, trademarks, newsletters and conference division. IDG did not comment on whether it would relaunch the magazine and conference business or continue to operate the Web site.
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