Primedia, New York, acquired Sterling/Macfadden Teen Network, publisher of Teen Beat
, Tiger Beat
, and Laufer Publishing Co., publisher of BOP
. The businesses, along with Primedia's Seventeen
, will form a new Primedia Youth Entertainment Group. Terms were not disclosed, but publishing executives estimate the purchase price at approximately $50 million. Mark Petersen, VP-single copy sales for Primedia Consumer Magazines, will become senior VP-Youth Entertainment Group. Scott Laufer, president of Laufer Publishing, will become a Primedia VP, and will continue to run BOP
Copyright December 1998, Crain Communications Inc.