PRIMEDIA Inc. announced yesterday that it has entered into a definitive agreement to sell its Modern Bride Group for $52 million to Conde Nast Publications. The closing will take place following
standard U.S. regulatory approval and the transaction is expected to close in the first quarter of 2002. According to company officials, the sale of Modern Bride Group is a part of Rrimedia's ongoing
plan to sell non-core assets, reduce debt and continue to focus the company around those operations which have the highest potential to be integrated multi-platform properties with strong endemic
advertising support.