CHICAGO: As part of its plan announced in July to sell non-core
assets, reduce debt, and better focus the company, Primedia has
confirmed the long-rumored sale of its Bacon's Information unit to
Swedish media and market analysis company Observer for $90
million.
Bacon's provides media information and monitoring, as well as press
coverage analysis to PR professionals.
Per Blixt, SVP of corporate communications at Observer, said the company
plans to extend Bacon's product offering.
"We will add to the Bacon's services our offering in 12 European
countries and Canada," said Blixt, who said he had no information on
price changes for the new service.
Primedia acquired Bacon's Information for approximately $50
million in 1995. A Primedia spokesperson said Bacon's was singled out
for sale as a non-core asset because Bacon's is a content distributor,
not a content creator like other Primedia titles including Seventeen,
Teen, Automobile, Motor Trend, New York, and American Baby.
