Primedia To Sell Outdoor Group
InterMedia Outdoor Inc. Pays $170 Million for shooting, hunting titles
Primedia today announced that it has agreed to sell its hunting, fishing and shooting titles to InterMedia Outdoor Inc., an entity owned by New York-based private equity firm InterMedia Partners, for $170 million cash.
The sale covers 17 publications, including newsstand giant Guns & Ammo, as well as all events, Web sites, TV and radio programming and branded products associated with the magazines. The sale is expected to close by the end of the first quarter of 2007.
Earlier this year Primedia sold its Crafts Group To Enthusiast Media LLC, in an all-cash transaction of $132 million.