Primedia Restructures Intertec and IndustryClick Units
Posted on March 16, 2001
Primedia, a media company with print, video and Internet businesses focused on consumer and business-to-business audiences, announced initiatives designed to increase efficiencies and streamline its Intertec and IndustryClick business units. Approximately 140 positions at Intertec and 20 positions at IndustryClick will be terminated as part of the reorganization. Tom Rogers, CEO of Primedia, said the staff reductions are part of Primedia's planned $49 million in expense reduction in 2001 as part of the merger with About.com, a network of web guides.
David Ferm, CEO of Primedia's Business-to-Business Group, said in a statement, "The Business-to-Business Group has formed an integrated marketing strategy, which is focused on selling targeted advertising solutions more effectively across Intertec and IndustryClick. By focusing on the opportunities that the combination of traditional and new media businesses afford, we will enhance revenue growth by creating a more nimble and accountable organization."
Tom Rogers, Chairman and CEO of Primedia, says, "Integration is one of the keys to unlocking the value of Primedia's assets. `Primedia's Intertec and IndustryClick business units have created a structure that enhances their ability to save costs while delivering better more targeted solutions for advertisers. These announcements are part of Primedia's $49 million in expense reduction in 2001 as previously announced as part of the About, Inc. merger."
Primedia had sales of 1.7 billion in 2000 from its combination of traditional and new media properties. The Company is a special interest magazine publisher in the US., with more than 230 titles such as Seventeen, New York, Fly Fisherman, American Baby, Telephony, American Demographics. Primedia also has business-to-business media products, such as IndustryClick and recently completed its acquisition of About.com, a collection of over 1,000 special interest web guides.