PENTON FORMS JOINT VENTURE IN GERMANY; LAUNCHES NEW SHOWS.Penton Media (Cleveland, OH) has formed a joint venture operating company operating company A business that engages in transactions with outsiders. with Neue Mediengesellschaft (NMG NmG No More Gas (Myers Motors electric vehicle) NMG Navy Metrication Group NMG Nuera Media Gateway NMG Network Media Gateway NMG Network Management Gateway NMG Network Measurement Group ; Munich) and ComMunic (Munich). The new company, operating under the name of ComMunic, will produce trade shows, conferences and business publications for the German, Austrian and Swiss Internet, telecommunications and related technology markets. Penton has a controlling interest controlling interest The ownership of a quantity of outstanding corporate stock sufficient to control the actions of the firm. Controlling interest often involves ownership of significantly less than 51% of a firm's outstanding stock because many owners fail in the company. Penton said it is injecting new development capital in the company as well as a stock purchase consideration. Penton is also contributing existing assets, including the "Internet World Berlin" exhibition. ComMunic, an IT and high tech events producer, has been a joint venture partner in producing the Berlin show since 1997, in conjunction with its partner, NMG. NMG is a German business information publisher and produces Penton's Internet World under license. Penton said that a key part of its growth strategy in Europe is the transfer of additional Penton products into the German market via ComMunic. The first execution of that strategy is the launch of "ISP (1) See in-system programmable. (2) (Internet Service Provider) An organization that provides access to the Internet. Connection to the user is provided via dial-up, ISDN, cable, DSL and T1/T3 lines. Business," a new event for the Internet service provider Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. market, in Frankfurt in November. In related news, Penton's Internet World division (Darien, CT) will launch "eBook World," described as the first event dedicated solely to the rapidly emerging electronic book marketplace, on Nov. 6-7 in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . Penton said the conference and exhibition will focus on the technological aspects of e--book publishing, issues and concerns of traditional publishers and the "cultural change" the technology will bring. |
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