Jul 2, 2001
© 2014, Roadracing World Publishing, Inc.
(This original, copyrighted material may not be copied, cut and pasted, published or otherwise reproduced in any way in any medium, which means, don’t post this on another website or BBS. If you want somebody else to see this, send, share or tweet a link or post a link to this page.)
EMAP, a British media company, announced on Monday, July 2 that it has sold its United States magazine group (formerly Peterson Publishing) to New York-based Primedia, Inc. for $515 million. <BR><BR>According to a Rueters report appearing on the Yahoo Finance News website, EMAP bought Peterson for $1.2 billion just two years ago, the price based on a strong forecast of U.S. advertising growth.<BR><BR>After the Publishers Information Bureau released word that U.S. magazine advertising dropped 9.4% in May, EMAP made the sale to Primedia, which now becomes the second-largest consumer magazine publishing company in America with some 250 titles.<BR><BR>Included in Primedia's newly expanded collection of magazines are Motorcyclist and Sport Rider.