Observer spends $90m on Bacon's

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.