Atlanta—Primedia Inc. announced it has agreed to be acquired by affiliates of TPG Capital for about $525 million. Primedia's flagship publication is Apartment Guide; it also operates ApartmentGuide.com, NewHomeGuide.com and Rentals.com.
Now primarily a consumer publisher, Primedia at one time had a large b-to-b media component with large acquisitions such as Intertec in 1989 and Cowles Business Media in 1998. Its b-to-b business was known as Primedia Business Information when it was sold to Wasserstein & Co. in 2005 and renamed Prism Business Media. That business merged with Penton Media in 2006.