PENTON ACQUIRES STREAMING MEDIA, INC.; PRICES OFFERING AT $30 PER SHARE.In related news, 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. (Cleveland, OH) has completed the acquisition of Streaming Media See streaming audio, streaming video and digital media hub. , Inc. (San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , CA), a media company serving the streaming media market. Penton said it paid $65 million plus contingent consideration of up to $35 million based on the achievement of specified targets in 2001. Established in 1998, Streaming Media produces the Streaming Media East, Streaming Media West and Streaming Media Europe trade shows and the streamingmedia.com Web site. The Web site features articles, audio/video content, industry news and weekly newsletters for over 50,000 subscribers. The company will begin the publication of Streaming Media magazine with an issue in December. It will have a controlled circulation of 50,000 streaming media professionals worldwide. Editorial will include information on recent advances in streaming and broadband technologies, new research, software and hardware, and the assimilation of streaming technologies into everyday business and life. Advanstar Communications begins the publication of Streaming 4 Business with an issue in October. Also, Penton has announced the public offering of 3.64 million shares of common stock, all of which are being sold by stockholders other than management, at a price of $30 per share. The offering is being made through an underwriting group led by Donaldson, Lufkin & Jenrette Securities and Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. & Co., with Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. , Salomon Smith Barney Smith Barney is a division of Citigroup Global Capital Markets Inc., a global, full-service financial firm, that provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. and DLJdirect as co-managers. |
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