• by Larry Dobrow , October 8, 2003

PBI Media yesterday confirmed rumors it will be purchasing CableWorld from Primedia, which will convert to an every-other-weekly from a weekly publishing frequency. PBI, which owns a host of cable-industry related publications, did not disclose terms of the deal, but the move comes as Primedia has been aggressively shedding assets in an effort to reduce its debt position and increase shareholder confidence.

Primedia originally was rumored to be consider the sale of CableWorld and its Kagan World Media unit as a package, a deal many believed would have fetched a premium in the marketplace, given Kagan's hold on cable industry databases.

Nancy Maynard, vice president and group publisher for PBI's Broadband Group, said that the acquisition of CableWorld makes the company a "one-stop shop" for information about the broadband cable business.

The company added that CableWorld would retain "key editors and contributors," who will be supported by PBI staffers. Over the past year Primedia had invested considerable sums to improve the editorial quality of CableWorld, including recruiting former Mediaweek and Editor & Publisher editor Bill Gloede to oversee the revamping and much greater integration with Kagan's databases and analysts.

Other PBI holdings include CableFAX Daily, Communications Technology magazine, and the CableFAX and Broadband Leaders Retreats.