Away.com and PRIMEDIA Partner to Lead Historic Travel Space Joint Venture Will Create Complete Online Resource for History Travel Enthusiasts.Business Editors/High-Tech Writers WASHINGTON--(BUSINESS WIRE)--Dec. 12, 2000 Away.com -- the web's leading destination for researching, booking and gearing-up for extraordinary escapes -- today announced a strategic alliance with print, video and Internet leader PRIMEDIA, Inc. (NYSE NYSE See: New York Stock Exchange : PRM PRM Partner Relationship Management PRM Parameter PRM Bureau of Population, Refugees and Migration (US State Department) PRM Partidul Romania Mare (Romania Mare Party) PRM Professional Risk Manager ), to create the definitive online resource for history travel enthusiasts. PRIMEDIA is the recognized leader in history publishing, with over 800,000 subscribers to its history publications. As part of the deal, PRIMEDIA will take an equity stake in Away.com. Under the terms of the agreement, Away.com will receive an exclusive brand, content, and URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. license for HistoricTraveler.com, PRIMEDIA's website for its 11 history-related publications. Away.com will provide turnkey See turnkey system. operation of HistoricTraveler.com and will add e-commerce capabilities to the site, driving sales of trips, gear and merchandise. As part of the deal, Away.com will also receive promotion across PRIMEDIA's full range of consumer publications including Chicago, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Modern Bride, among others. The two companies view the history partnership as a gateway to reach other PRIMEDIA enthusiast A person who enjoys using computers and electronic equipment. Enthusiasts like technology and are willing to learn more of the ins and outs of a product than the average consumer, who just wants to use it. An enthusiast is more like a "prosumer." See consumer and prosumer. groups in the near future. "PRIMEDIA is a recognized media and Internet leader that truly owns the readership read·er·ship n. 1. The readers of a publication considered as a group. 2. Chiefly British The office of a reader at a university. and interest of the historical enthusiast as well as countless other specialty verticals," said Sean Greene, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Away.com. "In teaming with PRIMEDIA, Away.com will offer these subscribers the chance to fulfill ful·fill also ful·fil tr.v. ful·filled, ful·fill·ing, ful·fills also ful·fils 1. To bring into actuality; effect: fulfilled their promises. 2. their very targeted travel passions. We also see a great opportunity to work together in the future on similar partnerships." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the Travel Industry Association of America, over one fourth of U.S. adults, or 53.6 million people, reported taking at least one trip in the past year that included a visit to an historic place. The 800,000+ readers who comprise PRIMEDIA's history enthusiast group average more than two history-related vacations per year, according to PRIMEDIA research. These trips include tracing family roots, following in the footsteps of historic figures, touring sites of famous battles at home and abroad, and touring historic homes and their antique collections. In addition, the average reader spends over $200 annually on history-related books and materials. "We look forward to co-developing this content-rich website that offers our on- and off-line readers the most interesting historical travel excursions available," said Brent Diamond, Vice President & Publishing Director of PRIMEDIA. "After reviewing the capabilities of other online travel providers, Away.com's team, selection of historical tours, first-class customer service and extensive offering of merchandise far surpassed the competition." About Away.com: Away.com (http://www.away.com) is the Web's leading provider of extraordinary travel, with more than 1 million members and over 10,000 trips for individuals and custom-designed groups seeking an unforgettable vacation to challenge the mind, body and senses. With over 100,000 pages of content, a full-service call center and an extensive selection of travel merchandise, Away.com has been recognized as one of the top 50 privately held Internet companies by investment bank Wit SoundView. The company is backed by Gannett, Circle T Partners, National Leisure Group, New World Ventures and Potomac Ventures. Strategic partners include Discovery, Expedia, USATODAY, Outside magazine, Trip.com, Alta Vista See AltaVista. (World-Wide Web) Alta Vista - A World-Wide Web site provided by Digital which features a very fast Web and Usenet search engine. As of April 1996 its word index is 33GB in size. and Planet Outdoors. About PRIMEDIA, Inc.: PRIMEDIA Inc., with 1999 sales from continuing businesses of $1.7 billion, is a targeted media company with print, video and Internet businesses focused on consumer and business-to-business audiences. The company publishes more than 220 magazines, and owns and operates more than 300 websites and other Internet properties. PRIMEDIA's stock symbol NYSE: PRM. |
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