PRIMEDIA APPOINTS KELLY P. CONLIN, FORMER
INTERNATIONAL DATA GROUP CEO, AS PRESIDENT AND
CHIEF EXECUTIVE OFFICER
Dean Nelson to Remain Chairman
NEW YORK, NEW YORK, October 15, 2003
-- PRIMEDIA Inc. (NYSE: PRM) today announced
the appointment of Kelly P. Conlin as president
and chief executive officer. Mr. Conlin (43)
previously served as president and chief executive
office of International Data Group (IDG), a
$2.6 billion revenue company with a wide range
of assets including 300 targeted magazines and
newspapers in 85 markets around the world. Mr.
Conlin replaces Charles G. McCurdy, president
and interim chief executive officer, who will
be leaving the company after a transition period.
The company also said that as part of today's
announcement, interim Chairman Dean Nelson (44)
is assuming the role of Chairman of PRIMEDIA.
Mr. Conlin's experience spans three media organizations
in both editorial and operational roles. At
CNN, he was the Chief Assignment Editor in New
York during the network's start up era. At The
New York Times, Conlin was a reporter for the
paper's business section and later a strategic
planning manager in the company's magazine group.
In 1995, at the age of 35, he was named president
of IDG, the world's leading technology media
company, which he had joined in 1989. Mr. Conlin
added the chief executive officer title in 1999.
During his tenure, the company doubled in size,
launched dozens of new products, set records
for revenue and profit levels and was twice
ranked as one of Fortune Magazine's Best 100
Places to Work. Since leaving IDG in 2002, Conlin
has been an advisor to a private investment
firm specializing in equity investments in communications
and media companies around the world.
"PRIMEDIA's Board, including its independent
directors, took a very wide-ranging and deliberative
approach to the search process," said Henry
R. Kravis, a director of the Company and a founding
partner of Kohlberg Kravis Roberts & Co.
"Our goal was to find a leader with experience
in growing the top line organically and a proven
track record of maximizing the potential of
a broad portfolio of media assets. We are extremely
fortunate to have found the perfect balance
in Kelly. He is the ideal person to build on
PRIMEDIA's core base of consumer and business-to-business
properties and position the Company for the
next phase of its development and success.
"At the same time, we are sorry to say
goodbye to Charlie McCurdy, one of the original
founders of PRIMEDIA, whose knowledge of both
the media industry and acquisitions helped build
the Company from the ground up in 1989 into
the significant media enterprise it is today.
Charlie has been a superb architect for PRIMEDIA
and his contributions to the Company are inestimable.
We are particularly appreciative of his recent
service as interim CEO and he leaves the company
well positioned for success going forward. We
know he will dedicate himself equally to other
interests and challenges, and we wish him all
the best."
Dean Nelson, chairman of PRIMEDIA stated, "Kelly's
unique set of skills make him the perfect match
for PRIMEDIA. He brings a strong balance of
editorial and publishing experience, along with
deep operational expertise in managing a portfolio
of niche properties to generate growth.
"I am excited to remain Chairman of PRIMEDIA,
to ensure continuity and to work closely with
Kelly. My role will continue to be primarily
focused on several key strategic initiatives
and programs already underway, while Kelly will
have complete operational control of the Company,"
said Mr. Nelson.
Mr. Conlin stated: "PRIMEDIA has an extraordinary
portfolio of media franchises with leadership
positions in its various markets. I am very
excited to be joining PRIMEDIA and the opportunity
to fully develop the growth potential of these
properties. Similar to IDG, PRIMEDIA has many
opportunities for organic growth, from newsstand
performance to custom publishing, from lead
generation tools to international editions.
By focusing on producing great content for the
audiences we serve, packaging that content broadly
across print, web and face-to-face media and
being creative in how we give marketers access
to these targeted audiences, I believe that
each of PRIMEDIA's 330 media properties can
achieve their full potential. I look forward
to working closely with Dean and the management
team at PRIMEDIA as we turn the page on the
past and focus on creating value for our shareholders,
employees, readers and advertising partners."
Mr. Conlin received a BA magna cum laude from
Carleton College, where he was elected to Phi
Beta Kappa and earned an MBA from Harvard Business
School.
About PRIMEDIA
PRIMEDIA is the leading targeted media company
in the United States, with positions in consumer
and business-to-business markets. Our properties
deliver content via print as well as video,
the Internet and live events and offer highly
effective advertising and marketing solutions
in some of the most sought after niche markets.
With 2002 sales from continuing businesses of
$1.5 billion, PRIMEDIA is the #1 special interest
magazine publisher in the U.S. with more than
250 titles. Our well-known brands include Motor
Trend, Automobile, Fly Fisherman, Power &
Motoryacht, Creating Keepsakes, Ward's Auto
World, Registered Rep, Snowboarder, Stereophile,
Photographic and Folio. The company is also
the #1 publisher and distributor of free consumer
guides, including Apartment Guides. PRIMEDIA
Television's leading brand is the Channel One
Network and About is one of the largest sources
of original content on the Internet. PRIMEDIA's
stock symbol is NYSE: PRM.
This release contains certain
forward-looking statements concerning PRIMEDIA's
operations, economic performance and financial
condition. These statements are based upon a
number of assumptions and estimates, which are
inherently subject to uncertainties and contingencies,
many of which are beyond the control of the
company, and reflect future business decisions,
which are subject to change. Some of these assumptions
may not materialize, and unanticipated events
will occur which can affect the company's results.
Contacts:
Jim Magrone of PRIMEDIA Inc.,
investors,
+1-212-745-0634,
jmagrone@primedia.com;
Elliot Sloane,
media,
+1-212-446-1860,
esloane@sloanepr.com
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