October 4, 2005

PBI Media Holdings Inc., a corporation controlled by New York-based Wasserstein & Co., has completed its acquisition of PRIMEDIA's B2B Information segment, paying $385 million in cash.

John French, former Senior Vice President of the PRIMEDIA Business Information segment will now serve as President and CEO of PBI Media Holdings. He'll be responsible for the company's strategic, product, operational and revenue for the PBI portfolio of products.

Andrea Persily has been promoted to CFO and COO of PBI Media Holdings.

PBI Media Holdings plans to announce a new company name soon that will better reflect the company's changed position as a result of this acquisition.

PBI Media Holdings now consists of 70 business-to-business targeted publications, more than 100 Web sites, 25 events and 50 directories and data products.

Source: Expo Web.com