Information Today buys Streaming Media

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Medford, N.J.--Information Today Inc. has completed its acquisition of Streaming Media Inc. from Cleveland-based Penton Media Inc.

The deal was one of several that Penton, which has struggled in the persistent b-to-b recession, completed in the last weeks of 2002.

Information Today bought Streaming Media's conferences and exhibitions as well as the Web site and e-mail newsletter.

In another December deal, Penton sold Boardwatch magazine as well as the Boardwatch and ISPworld Web sites to New York-based Light Reading, a telecommunications media company. Light Reading plans to discontinue Boardwatch as a print publication and move it online.

Additionally, Penton sold A/E/C Systems International, which produces two trade shows serving the architectural, engineering and construction industries, to Washington, D.C.-based Hanley-Wood L.L.C.

Terms of the deals were not disclosed.

Industry observers said that Penton executed the deals in part to boost its cash position. “I think it’s prudent that they are seeking to raise some cash by selling non-strategic assets, because there’s no telling how strong 2003 is going to be,” said Robert Crosland, managing director at AdMedia Partners Inc.

--Sean Callahan

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