PRIMEDIA REDEEMS ITS SERIES J PREFERRED STOCK
New York, NY (July 7, 2004)
-- PRIMEDIA Inc. (NYSE: PRM) today announced
that it has redeemed all of its outstanding
Series J Convertible Exchangeable Preferred
Stock, representing an aggregate of approximately
1,424,306 shares as of today's redemption date,
for approximately $178,038,252 in cash.
About PRIMEDIA
PRIMEDIA is the leading targeted media company
in the United States. With 2003 revenues of
$1.3 billion, our properties comprise more than
200 brands that connect buyers and sellers in
more markets than any other media company through
our print publications, Web sites, events, newsletters
and video programs in four market segments:
- Enthusiast Media includes more than 120
consumer magazines, their Web sites and About.com,
and is the #1 special interest magazine publisher
in the U.S. with well-known brands such as
Motor Trend, Automobile, Creating Keepsakes,
In-Fisherman, Power & Motoryacht, Hot
Rod, Snowboarder, Stereophile and Surfer.
- Consumer Guides is the #1 publisher of free
consumer guides in the U.S. with Apartment
Guide, Auto Guide and New Homes Guide and
the #1 distributor of free consumer publications
through its proprietary distribution network
in more than 16,000 locations.
- Business Information is a leading information
provider in more than 20 business market sectors
with 78 magazines, 108 Web sites, 23 events,
and 53 directories and data products.
- Education and Training includes Channel
One, a proprietary network to secondary schools;
Films Media Group, a leading distributor of
educational videos; and Workplace Learning,
a group of employee training networks.
PRIMEDIA's stock symbol is NYSE: PRM.
Contacts:
Elliot Sloane,
Sloane & Company,
212-446-1860,
esloane@sloanepr.com
Jim Magrone,
PRIMEDIA Investor Relations,
212-745-0634
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