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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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