Primedia Sells Modern Bride to Conde Nast
Primedia Inc. said that it would sell Modern Bride magazine to Conde Nast Publications Inc. for $52 million, according to reports.The sale appears to be another step by Primedia to strengthen its financial position. The company completed a $90 million sale of Bacon's Information in November 2001.
After acquiring Emap USA for $505 million in August of last year, Primedia said it would raise $250 million through asset sales.
Some of Primedia's other consumer magazine titles include American Baby, New York, Seventeen, Soap Opera Digest and Teen.
Modern Bride joins the Conde Nast roster of publications, which includes its own Bride's title as well Vogue, Glamour and Allure.
Neither Primedia nor Conde Nast returned calls for comment.
