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Primedia Seeking to Sell Enthusiast Media Unit

Authored by Scott Goldberg on February 16, 2007 - 4:29pm.
Surfer New York, NY - Primedia Inc. has hired Goldman, Sachs & Co. and Lehman Brothers Inc. to explore the sale of its Enthusiast Media unit.  Primedia Enthusiast Media (PEM) consists of 70 publications, 90 websites, and 65 events, including Motor Trend, Hot Rod, and Surfer.  PEM’s 2006 revenue surpassed $500 million, and analysts believe the business could be worth more than $1 billion.  Kohlberg, Kravis, Roberts, & Co. owns 61.3% of Primedia.
tags: Publishing | Media | Primedia | Goldman Sachs | Enthusiast Media | Lehman Bros | KKR |