| Type | Private Ownership |
|---|---|
| Founded | 1989 |
| Headquarters | Norcross, GA, United States |
| Website | http://www.primedia.com |
PRIMEDIA Inc. is privately held American media company fully owned by TPG Capital.
Consumer Source Inc. is the sole operating division of PRIMEDIA and helps millions of consumers find apartments, houses for rent, and new homes for sale through its Internet, mobile, and print products. Their Apartment Guide, ApartmentGuide.com, Rentals.com, and New Home Guide brands are their most recognizable, but additional properties such as RentRentar.com and RentalHouses.com also exist.
Organized in 1989 as K-III Communications Corporation by private equity giant Kohlberg Kravis Roberts, the company made a series of acquisitions of niche publications under Bill Reilly's leadership in the 1990s. The firm went public in 1995, selling stock 15 million shares at approximately $12 per share, in a deal that left Kohlberg Kravis Roberts with control of 82.2% of the company's shares.[1] The firm adopted the Primedia name as of November 18, 1997 to more clearly focus on its core business.[2] Primedia sold a group of 17 outdoor-oriented magazines to InterMedia Outdoors for $170 million in cash, in a deal that included Guns and Ammo and Fly Fisherman.[3] In 2007 Primedia sold its Enthusiast Media division to Source Interlink in a deal that netted Primedia $1.15 billion in cash in exchange for a group of more than 70 magazines, including Motor Trend and Soap Opera Digest and 90 consumer web sites. The deal left Primedia to focus on a series of free print and online consumer guides published by its Consumer Source unit.[4]
In 2011, private equity firm TPG Capital bought Primedia for $525 million.[5]
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