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Primedia is Selling About.com

The Primedia publishing company is selling About.com and five companies are expected to bid on acquiring the property on or before Tuesday, February 8, 2005, the deadline for submitting bids. The five companies who are expected to bid are:

  • AOL
  • Ask Jeeves
  • Google
  • New York Times
  • Yahoo

  • The auction is being managed by Goldman Sachs.

    Primedia was founded in 1989 and About.com was founded in 1996 as "The Mining Company". In 2000 Primedia purchased About.com for $690 million in stock, and at that time it was expected that Primedia would use About.com to expand their print magazines to the Internet community. Primedia is expecting to receive bids between $350 to $500 million for About.com.




    Related Links
    About.com
    Primedia
    Goldman Sachs

    Kathie Fry
    Kathie Fry
    Editor


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