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IndustryClick Takes Stake in Digital Media Online

PRIMEDIA's B2B Internet company, IndustryClick, acquired a significant equity position in Digital Media Online, investing $14 million worth of promotion, licensing and cash.

Digital Media Online operates Web sites for digital media production, including DigitalMediaNet.com, DigitalWebCast.com and DigitalProducer.com.

"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 chief executive officer of PRIMEDIA. "PRIMEDIA is on its way to being a major player in the B2B Internet marketplace."

Digital Media Online will license content from seven entertainment technology publications that reach nearly one million decision-making professionals owned by PRIMEDIA's Intertec Publishing including Millimeter, Mix, Video Systems, Broadcast Engineering, World Broadcast Engineering, BE Radio and Sound and Video Contractor.

The relationship also provides that PRIMEDIA will build out fully-featured e-commerce functionality across Digital Media Online's 23 market hubs using technology from IndustryClick's Digibid.com, a real-time interactive auction site specializing in the sale of professional broadcast, audio, video, music, recording and lighting equipment.

PRIMEDIA's IndustryClick, a business-to-business Internet company, builds and operates B2B vertical online communities serving niche industries including B2B e-commerce with Digibid, media with Media Central, marketing with MarketingClick, agribusiness with AgriClick, telecommunications with TelecomClick, and promotions with PromoXchange.

PRIMEDIA Inc., with 1999 sales of $1.7 billion, is a media company with print, video and Internet businesses.