PRIMEDIA Inc. announced that it has retained Allen & Company LLC to explore strategic options for NEW YORK Magazine. Charles McCurdy, president and interim CEO of PRIMEDIA stated in a press release:
"Over the last few months, we have refocused on achieving superior top line and bottom line organic growth in our consumer magazine business by building on our dominant position in the enthusiast
area. At the same time, we have been approached by a number of organizations interested in purchasing NEW YORK Magazine. They are attracted by NEW YORK's unique market position, strong legacy and
defining editorial excellence. Given these factors, we have decided to hire Allen & Company to explore options and manage an orderly process designed to generate maximum value to PRIMEDIA."