73 Primedia Titles for Sale

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NEW YORK Primedia is looking to get out of the enthusiast magazine arena altogether, putting its remaining 73 category titles such as Motor Trend and Automobile and their related properties on the block.

The division includes 90 Web sites and more than 65 events, and generated more than $500 million in 2006 revenue. The company has retained Goldman Sachs and Lehman Brothers to manage the process.

Dean Nelson, chairman, president and CEO of Primedia, said that given the strong multiples it received from the sale of its outdoors titles in December and the strong investment and debt markets, Primedia’s board decided it made sense to explore a complete sale of its enthusiast titles rather than spin off its Consumer Source division, a publisher of free consumer guides.

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