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PENTON ANNOUNCES STOCK OFFERNING; AGREES TO ACQUIRE DUKE COMMUNICATIONS.

Penton Media (Cleveland, OH) has filed a registration statement with the SEC for a public offering of more than 3.6 million shares of its common stock. To be offered by "certain selling stockholders," the proposal is being made through an underwriting group that includes Donaldson, Lufkin & Jennrette and Merrill Lynch & Co. with Salomon Smith Barney Inc. and DLJ Direct Inc. as co-managers.

Also, Penton has entered into a definitive agreement to acquire Duke Communications (Loveland, CO). No terms of the deal were given. Duke will become a part of Penton's Advanced Technology Media division.

Duke was established in 1982 and has about 300 employees. The company publishes five magazines in the U.S. and one in the U.K. Titles include: Windows 2000 Magazine, published 14 times a year with a paid circulation of 130,000; SQL Server Magazine, a monthly for 30,000 paid and controlled readers involved in the use of SQL servers; News/400 Magazine, published 14 times a year with a paid circulation of 20,000; AS/400 Solutions, published six times a year with a mixed circulation of 12,500; Business Finance, a monthly with a controlled; circulation of 50,000 financial executives; and, News/400.uk, published by Duke Communications Europe (Manchester, Eng.). Other acquired assets include nearly 20 Web sites, 23 e-mail newsletters and international editions of the magazines.

Penton Media ceo Thomas Kemp said "we envision applying Penton's deep experience in producing technology-related trade slows ... to expand Duke's current event business." Kemp also said that "we are moving forward aggressively to achieve leadership positions in key global markets" and that Duke's platform in England will accelerate Penton's international growth strategy.
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Title Annotation:Penton Media
Comment:PENTON ANNOUNCES STOCK OFFERNING; AGREES TO ACQUIRE DUKE COMMUNICATIONS.(Penton Media)
Publication:Business Publisher
Article Type:Brief Article
Geographic Code:1USA
Date:Aug 31, 2000
Words:279
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