PRIMEDIA's Wards Automotive Magazines Sold to Prism Media
NEW YORK Dec. 22, 2005; Prism Business Media Inc. (formerly PBI Media Holdings, Inc.) today announced the purchase of the Ward's Automotive properties from PRIMEDIA, Inc. Ward's AutoWorld, Ward's Dealer Business, Ward's Information Products and Ward's Auto Interiors Show and Conference will rejoin Prism Business Media's other business information properties purchased from PRIMEDIA in September, 2005. Terms of the acquisition were not disclosed.
"Ward's outstanding magazine, online products and trade show represent an ideal strategic complement to the strong b-to-b transportation portfolio we acquired from PRIMEDIA in September. Their market-leading editorial and talented staff are highly respected in the automotive community and we're pleased to welcome them to the Prism Business Media team," said John French, president and CEO of the company.
Jim Bush, a 24-year Ward's veteran, will serve as Managing Director for the Ward's Automotive Products Group, reporting to Prism Group Publisher Tom Duncan.
"Jim is a perfect fit for this role," added French. "His exceptional experience and leadership are highly regarded within the industry and we know he'll continue to contribute significantly to the success of the group."
The Ward's properties and staff will continue to be based in their current Southfield, MI office.
Prism Business Media's other transportation products include American Trucker, Bulk Transporter, FleetOwner, Refrigerated Transporter and Trailer Body Builders, as well as a variety of industry-specific data services.
About Prism Business Media Inc.
Prism Business Media Inc. (formerly PBI Media Holdings, Inc.) is a leading producer of targeted publications, Web sites and exhibitions that bring sellers together with qualified buyers. It consists of 70+ publications, 130+ Web sites, 180+ e-mail newsletters, 20+ trade shows and 450+ rich data products that serve professionals in 20 market sectors including agribusiness, communications, electrical and public services, entertainment, marketing and transportation. Prism Business Media is owned by U.S. Equity Partners II, an investment fund sponsored by Wasserstein & Co., LP, and by co-investors Highfields Capital Management and Lexington Partners. More information about the company can be found at www.prismb2b.com.