Primedia and Red 7 Media form new company to publish magazines

Business Publisher, August 31, 2004

Primedia Business Magazines (Stamford, CT) has formed a partnership with Red 7 Media, Inc. (Norwalk, CT). Under terms of the partnership agreement, a new company will be formed to produce Folio:, Circulation Management and their related shows and properties, as well as existing Red 7 Media businesses, including Folio: competitor M10, Event Marketer magazine and their related shows. The new company will be managed by Red 7 Media's current leadership, including Kerry Smith and Tony Silber. Primedia will own a minority equity stake in the new company.

Red 7 will publish the September/ October issue of M10 and then combine that magazine with Folio: beginning in November. The M10 brand will continue to be used in a variety of other media. Circulation Management will also continue to be published.

Smith said the creation of M10 in 2003 and Event Marketer in 2002 and their subsequent success illustrate a new publishing model that will be applied to Folio: and CM. "We don't rely on traditional advertising as our primary revenue channel. Our model integrates advertising with business-development services and other fully integrated programs to deliver a more cohesive package to the customer and garner a larger share of their budgets."