Prism Business Media

Prism Business Media Profile

Prism Business Media was formed in late 2005, when Wasserstein & Co. purchased Primedia Business Information from Primedia Inc.. The company has since been renamed Penton Media (see below).

Once known as Intertec Publishing, the company was renamed Primedia Business Information after Primedia Inc. acquired it. In August 2005, Primedia sold Primedia Business Information to Wasserstein & Co. for $385 million. The company was temporarily renamed PBI Media Holdings, Inc., renamed Prism Business Media in December 2005 and then renamed Penton Media after Wasserstein & Co. purchased Penton Media.

Wasserstein & Co. acquired Penton Media in November 2006. The purchase price was $194.2 million plus the assumption of debt, valuing the deal at $530 million.

Other Wasserstein media holdings include ALM and The Deal. In late 2003, chairman Bruce Wasserstein's New York Media Holdings bought New York magazine from Primedia.