CMP files for IPO

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CMP Media hopes to raise as much as $115 million in an initial public offering filed on Friday (AA 5/5). Proceeds from the offering would be used to repay debt and for general purposes. After the offering and taxes are taken into account, CMP would have reported net income of $16.06 million on revenue of $418.06 million last year, up from net income of $9.54 million on revenue of $382.36 million in 1995, according to the SEC filing. CMP did not say how many shares it plans to sell or give a share price for the stock. Goldman, Sachs & Co.; Lazard Freres & Co.; Bear, Stearns & Co. and Furman Selz will underwrite the offering. Shares will trade on the Nasdaq stock exchange under the symbol CMPX. CMP publishes InformationWeek, Communications Week, Windows Magazine, NetGuide and other titles.

Copyright May 1997, Crain Communications Inc.

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