PRIMEDIA Inc., () is an American magazine company. It is publicly owned, trading on the New York Stock Exchange with private equity giant Kohlberg Kravis Roberts holding a controlling stake in the company.
Consumer Source Inc. is the sole operating division of PRIMEDIA and publishes and distributes more than 20 million guides and magazines – such as Apartment Guide and New Home Guide – to more than 50,000 U.S. locations each year through its proprietary distribution network, DistribuTech. The company also distributes category-specific content on its leading Web sites, including ApartmentGuide.com, RentRentar.com, NewHomeGuide.com, and Rentals.com, a comprehensive single unit real estate rental site.
Organized in 1989 as K-III Communications Corporation, the company made a series of acquisitions of niche publications under Bill Reilly's leadership in the 1990s. The firm went public in 1995, selling stock 15 million shares at approximately $12 per share, in a deal that left Kohlberg Kravis Roberts with control of 82.2% of the company's shares. The firm adopted the Primedia name as of November 18, 1997 to more clearly focus on its core business. Primedia sold a group of 17 outdoor-oriented magazines to InterMedia Outdoors for $170 million in cash, in a deal that included Guns and Ammo and Fly Fisherman. In 2007 Primedia sold its Enthusiast Media division to Source Interlink in a deal that netted Primedia $1.15 billion in cash in exchange for a group of more than 70 magazines, including Motor Trend and Soap Opera Digest and 90 consumer web sites. The deal left Primedia to focus on a series of free print and online consumer guides published by its Consumer Source unit.
Category:Magazine companies of the United States
Category:Private equity portfolio companies Category:Kohlberg Kravis Roberts companies Category:Publishing companies established in 1989This text is licensed under the Creative Commons CC-BY-SA License. This text was originally published on Wikipedia and was developed by the Wikipedia community.
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