The price was $35 million in cash. Primedia is publisher of 150 titles including Mew York Magazine and Seventeen
The deal brought Primedia
Primedia also reported a net loss of $34.4 million on revenues of $422.5 million for the second quarter of 2002, a narrower loss than the $139.7 million it posted in 2001 for the same quarter. Earnings before interest, taxes, depreciation and amortization at continuing businesses rose 26.9% to $65.1 million.
As of mid-afternoon today, Primedia's stock was up to $1.36, after touchnig an all-time low of $0.76 the previous week.