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Article: PRIMEDIA Inc. Completes Sale of Enthusiast Media Division.
- Article from:
- Business Wire
- Article date:
- August 1, 2007
CopyrightCOPYRIGHT 2007 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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- Recapitalizes Company by Entering into Definitive Agreement on $350 Million Credit Facility -
- Appoints Management Team -
- Effects 1-for-6 Reverse Stock Split of its Common Stock -
NEW YORK -- PRIMEDIA Inc. (NYSE: PRM) today announced that it has completed the previously announced sale of its Enthusiast Media division ("PEM") to Source Interlink Companies, Inc. ("Source") for $1,177,900,000 in cash, subject to certain post-closing adjustments. PRIMEDIA continues to operate Consumer Source Inc., its consumer guides business which publishes and distributes free print guides across the United States and operates classified listing Internet ...