Business Services Industry
PRIMEDIA's Motor Trend Expands Internationally; World's Leading Automotive Title to Be Published in Korea
Business Wire, May 24, 2005
NEW YORK -- PRIMEDIA, Inc. (NYSE: PRM), the country's leading targeted media company, today announced the international expansion of its renowned Motor Trend brand with the launch of Motor Trend Korea. This expansion leverages Motor Trend's influence as a category leader and broadens its exposure within the global automotive marketplace. Motor Trend Korea joins a growing roster of Motor Trend editions currently published abroad, including China, Taiwan, Mexico, Latin America, and Indonesia. The new publication will debut on newsstands with the September 2005 edition.
Motor Trend has long established itself as the #1 automotive authority, combining fresh content, expert perspective, and sleek design to capture the passions of an ever-growing base of car enthusiasts. This expansion broadens Motor Trend's presence in the booming Asian automotive marketplace and enhances the network of publications that bring its trusted editorial content to consumers, dealers and manufacturers worldwide.
"The reputation of the Motor Trend brand makes the new edition instantly attractive to readers and enthusiasts globally. The expansion into Korea is testament to that reputation," said Jacqueline Blum, president of PRIMEDIA Enterprises, the company's licensing arm. "We continue to build equity worldwide and to replicate on a global scale the success that Motor Trend has enjoyed here in the U.S. as a trusted resource for automotive information and entertainment. Motor Trend Korea and our other international editions of Motor Trend are proof of the huge potential for our leading brands to expand globally."
Kaya Media Corporation, the #1 magazine publisher in Korea, will publish the Korean version of Motor Trend on a monthly basis and will distribute the publication to a wide readership through subscriptions and newsstand sales throughout Korea. The magazine will feature content from the U.S. edition as well as locally written news and features. In addition to the print publication, Kaya will also develop a Korean version of MotorTrend.com.
"Motor Trend magazine is the recognized automotive authority both in the U.S. and internationally. We are honored to be able to partner with Motor Trend and enrich the passion for the automotive industry here in Korea," said Young Chull Kim, president and publisher of Kaya Media.
Since 1949, Motor Trend has appealed to the widest demographic spectrum of buyers, enthusiasts and consumers of any publication in its field, testing more makes and models of cars, trucks, and sport utility vehicles than any other automotive magazine. This international expansion deepens its presence and dominance in the automotive industry.
About Motor Trend
Motor Trend, a PRIMEDIA publication, was founded in 1949 and has a circulation of 1.1 million and a total readership of 7.1 million. Internationally recognized as the world's number one automotive authority, Motor Trend is one of the leading brands in automotive publishing. The Motor Trend brand is comprised of motortrend.com; Motor Trend Television; Motor Trend Radio; Truck Trend; Motor Trend International Auto Shows; Motor Trend en Espanol; and the renowned Motor Trend Car, Sport/Utility and Truck of the Year Awards program.
About PRIMEDIA
PRIMEDIA (NYSE: PRM) is the leading targeted media company in the United States. With 2004 revenue of $1.3 billion, our properties comprise more than 200 brands that connect buyers and sellers in more markets than any other media company through our print publications, Web sites, events, newsletters and video programs in four business segments: Enthusiast Media, Consumer Guides, Business Information, and Education. PRIMEDIA Enthusiast Media includes more than 120 consumer magazines, with well-known brands such as Motor Trend, Automobile, Creating Keepsakes, In-Fisherman, Power & Motoryacht, Hot Rod, Snowboarder, Stereophile and Surfer. PRIMEDIA Consumer Guides is the #1 publisher and distributor of free consumer guides, with Apartment Guide, Auto Guide and New Home Guide. PRIMEDIA Business Information has more than 60 publications in 18 market sectors. PRIMEDIA Education includes Channel One and other educational products.
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