[0] Penton's European Operation Enters Strategic Partnership With LeisureHub.com.Business Editors LONDON--(BUSINESS WIRE)--June 6, 2000 Further Expansion of Penton European Operations Strengthens Market Position In Fast-Growing Leisure Sector. Penton Media Penton Media, Inc. (OTC: PTON.OB), founded in 1892, is a diversified business-to-business media company. Penton Media is a mass media corporation that publishes and produces over 40 magazines, 80 trade shows, and 47 web sites. , Inc (NYSE NYSE See: New York Stock Exchange :PME PME Petites et Moyennes Entreprises PME Professional Military Education PME Pequenas e Médias Empresas (Portugal) PME Petite et Moyenne Entreprise PME Psychology of Mathematics Education PME Pi Mu Epsilon ), today announced a strategic investment and partnership agreement with LeisureHub.com, the online B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business trading community for the global leisure industry. The deal will bring together two of the leisure industry's leading media players, including Penton's dominant European leisure event -- International Leisure Industry Week (LIW See VLIW. ) -- and the industry's only e-commerce marketplace, launched in January 2000. Penton joined Banc Boston as strategic investors in a second round of funding valued at 4m Pounds Sterling (approx. US$6m) in total for LeisureHub, which is already generating e-commerce transactional revenues. "In today's integrated media environment, the winners will be the players who can serve their market across multiple platforms Refers to two or more operating environments, which typically include the CPU family and operating system. For example, if versions of a program run on Windows and the Macintosh, the software is said to support multiple platforms. . Relationships and trust earned in one area must be leveraged on multiple fronts. And this deal is part of our wider strategy to strengthen our European position, invest in growth markets and build channels to market that feed each other to stimulate growth," said Thomas L. Kemp n. 1. Coarse, rough hair in wool or fur, injuring its quality. , chief executive officer of Penton. LeisureHub.com allows leisure industry professionals to buy and sell products and services online through a series of trading communities, covering theme parks, family entertainment centres, funfairs and carnivals, pubs and clubs, and health and fitness centres. LIW presents three interlocking interlocking /in·ter·lock·ing/ (-lok´ing) closely joined, as by hooks or dovetails; locking into one another. interlocking Obstetrics A rare complication of vaginal delivery of twins; the 1st "meta-shows" -- Parks and Attractions, Leisure Hospitality and Fitness Health and Sport -- into one massive leisure exhibition, conference and industry social forum. "The strategic fit is near-perfect," explained Andy Center, managing director of Penton Business Media Ltd, "LIW is Penton's flagship leisure industry product and brings together more buyers and sellers than any other leisure event. And LeisureHub.com has exploited its first-mover advantages First-mover advantage is the advantage gained by the initial occupant of a market segment. This advantage may stem from the fact that the first entrant can gain control of resources that followers may not be able to match. and technology lead to create a resource of awesome potential. Together, we can dramatically enhance our services to both buyers and sellers across the leisure markets." "We're delighted with Penton's investment and with the partnership it represents," said Tim Batstone, LeisureHub chief executive. `Together, we can build better, more efficient channels between buyers and sellers across the entire leisure industry, first in Europe and then globally." As part of the deal, LeisureHub will also use its proprietary technology to develop LIW's show Web site into a year-round showcase. The LIW site is already one of the Leisure industry's most-visited Web sites, receiving tens of thousands of page views in the months surrounding the event. Leisure Industry Week is Europe's flagship leisure event, attracting over 500 exhibitors and 25,000 visitors each year. LIW is owned by Penton Media, Inc. (NYSE:PME), a leading, diversified business media company that produces market-focused magazines, Web sites, trade shows and conferences. Penton serves a wide range of global markets, including the leisure/hospitality industry. The company generated 1999 revenues of US$300.8 million. For more information, visit www.penton.com. LeisureHub.com, the worldwide, online B2B trading community, offers leisure industry buyers a growing range of e-procurement services, news, resources and information. By aggregating supply and demand, LeisureHub.com allows buyers quickly to find the products they need at competitive prices -- including online auctions -- while giving suppliers instant access to a global marketplace. Backed by BancBoston Capital Inc. (part of Fleet Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. Group) and AIM-listed Internet incubator incubator, apparatus for the maintenance of controlled conditions in which eggs can be hatched artificially. Incubator houses with double walls of mud, a fireroom, and several compartments each holding about 6,000 hens' eggs were developed in ancient times; the , Brainspark, LeisureHub.com has created a series of linked vertical communities serving 5 specific sectors of the leisure industry. For more information, visit www.leisurehub.com. For more information about the new opportunities available to leisure industry suppliers, contact: Andy Center, Penton Media (Europe) andy.center@indexltd.co.uk 44 (0)20 8232 1600 Tim Batstone, LeisureHub tim@leisurehub.com 44 (0)20 7843 6631 |
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