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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:
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AOL
Ask Jeeves
Google
New York Times
Yahoo
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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.
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Related Links
About.com
Primedia
Goldman Sachs
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Kathie Fry
Editor
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