[BusinessTeam] == Primedia Aquires 49% Stake in Brill Media Holdings ==

Message-ID: <6B75EF096AE0BE428B8CEDEA89C5F63278230E@exchange01.lab49.com> · Thu Jan 04 19:08:16 2001 UTC

== Primedia Aquires 49% Stake in Brill Media Holdings ==

Publishing giant Primedia Inc. (NYSE: PRM) today announced a joint venture

with Brill Media Holdings to combine its newsletters, magazines, Web sites

and databases into a new subsidiary called Media Central.

Brill Media Holdings, which runs Brill's Content magazine and
Contentville.com, has landed a minority interest in the new spinoff.
Brill's
top man, Steven Brill, has landed the role of CEO of Media Central, which
will fall under Primedia's B2B Group.

In return, Media Central has taken a 49 percent interest in the properties

of Brill Media Holdings, majority ownership and control of which will
remain
with Steven Brill and the BMH partners.

Neither Primedia nor Media Central will have any funding requirements
related to Brills Content or Contentville.com, the two sides said in a
statement.

Primedia properties to be included in Media Central include Kagan World
Media, Folio Magazine and the related trade shows, American Demographics,
Cable World, Simba, MediaCentral.com and Circulation Management.

"The rationale for this venture is as compelling as it is obvious," said
Primedia CEO Tom Rogers in a statement. "At a time when the media business

is expanding and the old boundaries that separated these industries are
rapidly disappearing, it makes sense to put all of these products under
one
roof," he added.

Brill also touted the joint venture, saying it would create "enormous
potential" in the new media industry.

"Much of that potential can be realized by getting the talented people who

produce them all into one organization where all can be focused on
becoming
the leading source of news about the media industry and all can be
encouraged to come up with new product offerings, cross market their
products, and share some of what they do across various titles, not to
mention contribute to a common website, MediaCentral.com, that will also
benefit from material produced by the staff of Brills Content," Brill
said.

Alex Chang
Co-founder & VP, Strategy
nano
(p)212.430.3704
(f)212.430.6374
(e)alex@nano.com

www.nano.com

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