CMGI, Liberty Media Buy Into Primedia

Share this content:
Internet holding company CMGI Inc. and publisher Primedia last week announced a wide-ranging strategic alliance in which the two companies will swap shares and develop jointly funded Web ventures.


Primedia also reached another deal with Liberty Media Corp. whereby the two firms would invest in each other and identify broadband video and interactive video applications for Primedia's content.


As part of the CMGI agreement,


Primedia will exchange 8 million shares, or approximately 5 percent of the media firm, for 1.53 million shares of CMGI


common stock.


In the second deal, Liberty Media will pay $200 million in cash for a 5 percent stake in Primedia, 1.5 million warrants and the option for its Liberty Digital subsidiary to acquire a 12.5 percent stake in Primedia's newly formed Broadband Video unit.


Both deals seek to leverage Primedia's ability to generate content via its business-to-consumer and business-to-business media properties. In CMGI, Primedia partners with a large, diverse holding company with more than 65 Internet businesses that span across marketing, content and infrastructure channels. In Liberty Media and, more specifically, Liberty Digital, Primedia partners with a video programming, interactive television and Internet specialist.
Loading links....

Sign up to our newsletters

Company of the Week

Since 1985, Melissa Data has helped thousands of companies clean, correct and complete contact data to better target and communicate with their customers. We offer a full spectrum of data quality solutions, including global address, phone, email, and name validation, identify verification - available for batch or real-time processes, in the Cloud or on-premise. Our service bureau provides dedupe, email/phone append and geographic/demographic append services for better targeting and insight. For direct mailers, Melissa Data offers easy-to-use address management/postal software, list hygiene services and 100s of specialty mailing lists - all with competitive pricing and excellent customer service.

Find out more here »

DMN's Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here