MEREDITH’S JOHN LOUGHLIN JOINS PRIMEDIA
Byline: Lisa Lockwood
NEW YORK — John Loughlin, president of Meredith Corp.’s Broadcast Group, has been named president and chief executive officer of the new Primedia Magazine and Internet Group.
Loughlin will oversee the consumer magazine group run by David Tanzer, which includes New York, Seventeen, Chicago and Modern Bride, and the enthusiast group run by Dan McCarthy, which includes Sail, Fly Fisherman and Automobile. Loughlin reports to Tom Rogers, chairman and ceo of Primedia.
Eileen Maura Murphy, vice president of communications for ABC News, has been named vice president of corporate communications for Primedia. She succeeds David Adler, who left Primedia last month to start an Internet business.
The company has also signed three new deals.
Primedia and CMGI Inc. have formed a strategic alliance to develop a series of new Web ventures. As part of the alliance, CMGI will acquire approximately 5 percent of Primedia in exchange for 1.53 million shares of CMGI.
CMGI is a diverse network of Internet companies, including more than 65 Internet businesses covering online marketing, content and community, infrastructure and e-commerce. Primedia publishes more than 250 magazine titles, 232 business and consumer information products, a variety of video businesses and more than 200 Web sites.
Liberty Media Corp. and Primedia have formed an alliance in which Liberty Media will invest $200 million in cash in Primedia in exchange for a 5 percent stake and 1.5 million warrants in the company.
Liberty Media, or its interactive TV and Internet affiliate, Liberty Digital, will receive an option to acquire a 12 1/2 percent stake in the company’s new Primedia Broadband Video unit in exchange for cash, Liberty Digital Series A common stock or Liberty Media Group tracking stock. The companies have also agreed to work together to develop consumer broadband video and other interactive video applications for Primedia’s content. Primedia will purchase $25 million of Liberty Digital stock to cement the relationship between the two companies.
Earlier this week, Cablevisions’ Rainbow Media Holdings and Primedia’s New York Magazine created a partnership combining the brands and content of the magazine and Rainbow’s MetroChannels.
The joint venture will collaborate on Web and TV extensions of a number of New York’s special issues, such as Spring and Fall Fashion, Interior Design, “Where to Eat Now,” “Best of New York” and “52 Weekends.” These events will be produced, promoted and delivered in print, on TV, on the Internet and on interactive broadband platforms.