Penton purchases Mecklermedia

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Penton Media, Cleveland, agreed to acquire Mecklermedia Corp., Westport, Conn. Penton said it will pay $29 a share for all Mecklermedia's common stock, valuing the deal at about $274 million. Mecklermedia owns Internet World and Ispcon trade shows and conferences, network of Web sites, as well as weekly title Internet World and monthly Boardwatch. The purchase furthers Penton CEO Thomas L. Kemp's goal of increasing his company's trade show revenue.

Copyright October 1998, Crain Communications Inc.

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