New York - Alloy, a provider of nontraditional media and marketing services targeting a youth audience, announced on Monday that it has acquired Channel One Communications Corporation, the operator of a network broadcast to 10,000 middle and high schools nationwide, from Primedia.

Financial terms of the transaction were not disclosed.

Channel One delivers a daily 12-minute news and public affairs broadcast to U.S. schools, at no cost to the schools.

New York-based Alloy said it hopes to bring the struggling Channel One to financial break-even within the next 18 months.

"We believe we will be able to build on this impressive platform to further benefit students and educators and provide relevant and responsible advertisers with a unique opportunity to support this mission," said Alloy chairman and CEO Matt Diamond.

Related Links:
http://biz.yahoo.com/bw/070423/20070423005476.html?.v=1

http://www.alloyinc.com

http://www.channelone.com