Digital Media Online Announces $14 Million Investment from PRIMEDIA's IndustryClick








SANTA ANA, CA--(March 8, 2000)--Digital Media Online (http://www.digitalmedianet.com/), the leading developer of B2B vertical online communities for the digital media market, announced a partnership with IndustryClick, a subsidiary of PRIMEDIA Inc. (NYSE:PRM), as a significant investor.

The investment totals more than $14 million, including promotion, licensing and cash. "This partnership with IndustryClick reinforces Digital Media Online's first mover position of leadership in the digital media marketplace. As the leading daily online resource for digital media professionals, we maintain a team of industry professionals working behind the scenes to supply our community members with the latest content, community news and resources. The teams at PRIMEDIA, IndustryClick and Intertec add significantly to our assets and we look forward to expanding on our mutual strengths in the marketplace," says Lou Wallace, CEO of Digital Media Online.

The agreement, believed the first of its kind, adds Intertec's www.Millimeter.com, www.VideoSystems.com, www.BroadcastEngineering.com, www.WBEonline.com, www.BERadio.com and www.ProAudio.net to the DigitalMediaNet.com industry hub. ProAudio.net includes a database of over 40,000 registered professional audio subscribers. The agreement also licensed to Digital Media Online all editorial content from the print publications associated with the above sites, along with content from Mix Magazine and Sound & Video Contractor.

"We are moving aggressively to establish B2B vertical online communities that join our rich editorial content with commerce in solidly growing industries," said Tom Rogers, Chairman and CEO or PRIMEDIA.

The deal adds six new vertical online communities to the 22 existing communities in the DigitalMediaNet.com industry hub. It also includes a significant partnership with Digibid.com, an IndustryClick e-commerce community to build and maintain the co-branded DigitalMediaNet.com auction area. Digibid.com is a real-time interactive auction site specializing in the sale of professional broadcast, audio, video, music, recording and lighting equipment.

"In this rapidly changing and constantly developing B2B online environment, it is increasingly important to move quickly. This partnership is the right mix of sharing content, sales force, and cross promotion that will move both companies into strong leadership roles in the market," said Timothy Andrews, President and CEO of IndustryClick.

Timothy Andrews, President and CEO of IndustryClick, Cam Bishop, CEO of Intertec Publishing, and Philip Berg, Vice President of IndustryClick, will join Lou Wallace, CEO of Digital Media Online, Michael J. Skerly, President of Digital Media Online, John J. Wilczak, CEO of iBenefits.com and Jeff Edson, CEO of Quantum 3D as members of the Digital Media Online new board of directors.

About Digital Media Online (http://www.digitalmedianet.com)

Digital Media Online is the leading developer of vertical online communities in the digital media marketplace. With more than 28 channels, DigitalMediaNet.com serves distinct market segments including streaming media, digital video, animation, special effects, desktop publishing, imaging and design, digital audio, CAD, workstations, game development, film, broadcast and post production. Each of the channels is updated with current industry news each business day. The DigitalMediaNet.com community resources include breaking technology and product news, techniques, white papers, research, interactive product guides, classified, job and resume listings and extensive examples of digital art, animations and video.

About PRIMEDIA Inc. (http://www.primedia.com)

PRIMEDIA Inc., with 1999 sales of $1.7 billion, is a targeted media company with print, video, and Internet businesses focused on consumer and B2B audiences. Some key properties include Seventeen, New York, Chicago, Fly Fisherman, Surfing Magazine, Channel One Network and 16 other specialty satellite television and TV distribution products, Horticulture, Modern Bride, American Baby, IntelliChoice, Telephony, American Demographics and Films for the Humanities and Sciences. The Company owns and operates more than 215 Web sites and other Internet properties.

About IndustryClick (http://www.industryclick.com) IndustryClick(TM) builds and operates business-to-business vertical online communities for niche industries. The company's communities include MarketingClick(TM) (www.marketingclick.com), Media Central(R) (www.mediacentral.com), TelecomClick(TM) (www.telecomclick.com), AgriClick(TM) (www.agriclick.com), PromoXchange(TM) (www.promoxchange.com), ProAudioNet(TM) (www.proaudio.net) and Digibid(TM) (www.digibid.com). Formed in April 1999, IndustryClick is based in Kansas City, Mo. and has offices in Chicago and Connecticut.

About Intertec (http://www.intertec.com)

Intertec Publishing is owned by PRIMEDIA Inc., and is broken down into 10 business platforms, including Agribusiness, Communications, Electrical and Public Services, Entertainment, Industrial, Marketing, Professional Services and Apparel, Transportation, Books and Exhibitions. 80% of Intertec magazines are No. 1 or No. 2 in their market. With over 1,600 employees, Intertec produces more than 100 magazines and newsletters, 450 books and valuation guides, and produces more than 30 trade events through the Exhibitions Division.


 

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