PRIMEDIA Launches South Florida Auto Guide; Auto Guide Continues Southeastern Expansion Capitalizing on Demand
NEW YORK--Aug. 1, 20050, 2005--PRIMEDIA Consumer Guides, the country's leading publisher and distributor of apartment, new home and auto guides, today announced the launch of South Florida Auto Guide, a free, weekly color publication featuring comprehensive listings of used cars, SUVs and trucks for sale by dealerships in the South Florida region.Auto Guide's continued expansion in major markets across the country is driven by PRIMEDIA's operating experience in the consumer guides business, its financial strength and the reach of its distribution arm, DistribuTech. The ideal platform for rapid growth in new markets, DistribuTech controls distribution through exclusive agreements with many of the largest and best-known retailers in the area.
South Florida Auto Guide is the second guide published by PRIMEDIA in Florida, one of the nation's leading automotive markets. This additional Florida guide strengthens Auto Guide's Southeastern presence, with four existing guides in North Carolina and Georgia. With a strong regional presence, PRIMEDIA Consumer Guides provides its customers with a valuable, recognizable brand name and strong distribution platform, helping to deliver the highest return on investment possible.
Florida is the country's second-largest automotive market, according to the National Automotive Dealers Association (NADA). Statistics show that of the more than 239 million vehicles in operation in the United States, over 45 million (19 percent) are used vehicles that have recently changed owners. Florida ranks second in the total number of used passenger cars, trucks and SUVs on the road, with almost six million. This is well over the national average of 2.7 million.
"Adding to our Auto Guide presence in Florida provides us the opportunity to extend our brand awareness among advertisers and consumers," said Bob Metz, chief executive officer, PRIMEDIA Consumer Guides. "Our goal is to have a nationwide Auto Guide presence. In less than three months, we have expanded our Southeastern operations and broken into the lucrative California market, with the recently launched San Diego and Orange County Auto Guides. As we continue to build out our free guides business, we are continuing to offer the best product to our customers and most valuable resource to our advertisers."
The South Florida Auto Guide is PRIMEDIA's thirteenth auto publication. More than 27,000 copies of the guide will be distributed weekly to over 2,000 locations across the South Florida region, including Winn Dixie, Albertsons, Blockbuster, Kmart, 7-11 and CVS Drugstores. The guide will also be available online at www.southfloridaautoguide.com.
About PRIMEDIA Consumer Guides
PRIMEDIA Consumer Guides is the largest publisher and distributor of apartment, new home and auto guides. The segment publishes and distributes 81 Apartment Guides in 75 regional markets with a combined monthly circulation of 1.6 million. Through the Apartment Guides and Apartmentguide.com, the company generated nearly 1 million leases for apartment property managers in 2004. Consumer Guides' New Home Guide offers consumers comprehensive information about new home communities in 25 regional markets. Its newest publication, Auto Guide, features comprehensive and easy to use listings of used cars, SUVs and trucks for sale by auto dealerships in California, Georgia, Florida, New England and North Carolina. The company's distribution arm, DistribuTech, has exclusive distribution relationships with many of the country's leading supermarkets and chain stores and last year distributed more than 2,000 separate publications to these venues on behalf of other publishing organizations.
About PRIMEDIA
PRIMEDIA is the leading targeted media company in the United States. With 2004 revenue of $1.1 billion, its properties comprise over 135 brands that connect buyers and sellers through print publications, websites, events, newsletters and video programs in three market segments:
-- Enthusiast Media is the #1 special interest magazine publisher in the U.S. with more than 120 consumer magazines, 115 websites, 100 events, 10 TV programs, 340 branded products, and has such well-known brands as Motor Trend, Automobile, Creating Keepsakes, In-Fisherman, Power & Motoryacht, Hot Rod, Snowboarder, Stereophile and Surfer.
-- Consumer Guides is the #1 publisher and distributor of free consumer guides in the U.S. with Apartment Guide, Auto Guide and New Home Guide, distributing free consumer publications through its proprietary distribution network, DistribuTech, in more than 49,000 locations.
-- Education includes Channel One, a proprietary network to secondary schools; Films Media Group, a leading source of educational videos; and Interactive Medical Network, a continuing medical education business.