Spokesman: Penton/Prism Merger Still Nameless (posted 11/22)
The new company that will be formed as the result of the Prism Business Media and Penton Media merger is still nameless, says Lee Feldman, a spokesman for Prism and Wasserstein & Co. Although there’s been some speculation that the name Prism would be retained because it is the company doing the acquiring, Feldman said Wednesday that it’s still too early in the process to determine what the new name will be.
Although Prism is a slightly larger company than Penton, with some $250 million in revenues, compared to Penton’s $200 million, Penton is more well-established b-to-b brand that has existed since 1892.
The Prism brand, on the other hand, is barely a year-old. Formerly Primedia Business Media, the company now known as Prism was purchased in August 2005 by Wasserstein & Co. for $385 million. After purchasing the company, Wasserstein briefly called its new entity PBI Media Holdings Inc., before settling on the name Prism in December of 2005.