Primedia net income drops amid rent opportunities

06 Nov 2008

Real estate magazine and Web publisher Primedia saw a Q3 net income drop of $381.8 million, which the company said was related to the sale of its Enthusiast Media segment in May 2007. The company reported net income of $12 million in Q3 compared to $393.8 million a year ago. Revenue in the quarter was also down 4.9 percent to $76.4 million from $80.3 million in Q3.

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Brian Blum

Brian Blum covers the U.S., Canada and Israel for Classified Intelligence Report, and contributes to our special reports and research projects. Originally from San Francisco and now based in Jerusalem, he has been with the AIM Group since 2004. He is the president of Blum Interactive Media, specializing in writing and multimedia content development for online, print, video and audio. His clients include newspapers, universities and non-profits. He is currently working on a book about the billion-dollar bankruptcy of a once high-flying Israeli startup.