Primedia to Replace CEO After Magazine Division Sale (posted 3/29)
Bloomberg.com is reporting Robert Metz will replace current Primedia CEO Dean Nelson when the company completes the sale of its magazine division. Investor relations head Eric Leeds shared the news at a conference yesterday and also revealed the New York-based company will move its headquarters to Atlanta, where Metz currently runs the company’s consumer guides group.
Primedia announced its plans to sell its Enthusiast Media group, its largest business unit which consists of 70 magazines, in early February. Leeds also said the company expects to complete a deal in the second quarter.
Nelson will remain chairman of the company, which brought in $524.8 million in revenue in 2006.