Primedia, the B2B publisher, has bought a majority stake in auto site Automotive.com for $72.5 million. This is 80 percent stake and the deal has an option of buying the remianing 20 percent by 2010, determined by its earnings.
Automotive.com is an informational and lead-gen site for new car buyers..following this deal, al of Primedia’s auto-related sites (55 in total) will contribute content to Automotive.com..these Primedia sites will be run as part of Automotive.com under Josh Speyer, CEO of Automotive.com who will continue as CEO of the combined business.
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