Primedia Internet plans send stock soaring

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New York--The Internet frenzy that gripped traders of ZDNet last week apparently struck again Thursday on the New York Stock Exchange. After Folio magazine reported earlier this week that Primedia intended to create two stand-alone Internet companies--one that would handle Primedia's consumer titles, the other its business-to-business titles--the publishing company's share price rose $3.31 to $16.88. Later in the day, the NYSE asked Primedia to explain the unusual market activity, according to a report from Reuters.
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