Re: Penton to buy Duke - News400 magazine (fwd)

[Glenn Ericson <Glenn-Ericson@xxxxxxx>]

Don  are you suggesting this would be in competition with or  for COMMON?

At 12:40 PM 08/31/2000 -0400, Don wrote:
>
>
>
>
>
>Hi! Thought you might find this interesting. Sounds like Penton wants to
>resurrect another midrange trade show. Hellena
>
>________________________
>
>Penton Media to Acquire Duke Communications, Leading Technology Media
>Company
>
>August 31, 2000 12:00am
>Source: Business Wire
>
>
>
>CLEVELAND--(BUSINESS WIRE) via NewsEdge Corporation -- Penton Media, Inc.
>(NYSE:PME) today announced it has entered into a definitive agreement to
>acquire Duke Communications International, a leading integrated media
>company serving the AS/400 and Windows 2000 operating systems markets, and
>other technology operating platform markets. The acquisition is subject to
>regulatory approval.
>
>Duke Communications (www.duke.com) publishes five magazines in the United
>States, and one title in the United Kingdom, including flagships Windows
>2000 Magazine, NEWS/400 and Business Finance. Duke has built upon its
>respected magazine franchise with a significant Internet media portfolio,
>which is expected to generate about 20% of Duke's 2000 revenues. Based in
>Loveland, Colorado, Duke was founded in 1982 and has approximately 300
>employees.
>
>"Duke Communications is an outstanding addition to Penton Media's existing
>technology media portfolio, which includes the global Internet World
>franchise," said Penton Media Chief Executive Officer Thomas L. Kemp. "Duke
>is one of the fastest growing technology B2B media companies in the United
>States and holds strong leadership positions in each of its target markets.
>It has been particularly successful in leveraging its brands and respected,
>authoritative content to build a successful Internet business."
>
>Duke has recorded strong growth rates in recent years. Kemp noted that
>Duke's management team has been highly successful in identifying emerging,
>fast-growth technology market segments and launching leading media products
>to serve their needs. "We look forward to combining our companies and
>providing resources to fuel Duke's growth and development," Kemp said.
>
>Kemp said that Penton plans to leverage Duke's globally respected brands
>into a larger in-person media offering. "We envision applying Penton's deep
>experience in producing technology-related trade shows, such as our global
>Internet World trade show portfolio, to expand Duke's current event
>business," he said.
>
>Kemp added that Duke's platform in England will accelerate Penton's
>international growth strategy. "International technology markets represent
>major growth opportunities for the Company, and we are moving forward
>aggressively to achieve leadership positions in key global markets," he
>said.
>
>Kemp said that Penton and Duke have key operational synergies, anchored by
>similar business cultures. "Led by Dave Duke, the company's founder and
>president, Duke Communications has emerged as a leader in its field by
>prioritizing value creation for its customers and by managing its business
>with a market-focused orientation. Its entrepreneurial, highly-energized
>and creative environment aligns perfectly with Penton's operating
>environment and our goals for the Company."
>
>"Joining Penton Media is a great step forward for Duke Communications,"
>said CEO Dave Duke. "Penton has a terrific management team, an outstanding
>array of leading publications, and a culture consistent with our own. We
>consider ourselves fortunate to be joining Penton, given its strengths in
>print, electronic publishing, and trade shows and conferences. We hope to
>become an important part of Penton."
>
>Penton expects to complete its acquisition of Duke Communications by the
>end of September. Kemp said Duke's current management will remain and that
>they will continue to operate from Loveland. Duke will become part of
>Penton's Advanced Technology Media division.
>
>Duke Communications is being represented in the transaction by The Jordan,
>Edmiston Group. Penton is being represented by Donaldson, Lufkin &
>Jenrette.
>
>About the Duke Communications Portfolio
>
>Windows 2000 Group -- This major operating group includes one of the most
>powerful I.T. information brands, Windows 2000 Magazine and its associated
>online network (www.win2000mag.net). The magazine is published 14 times a
>year with a paid circulation of about 130,000. The group also publishes the
>monthly SQL Server Magazine, which has a total circulation of 30,000. The
>magazine serves readers involved in the use of SQL servers as a business
>application and development platform. Additionally, the Windows 2000 Group
>includes 15 Web sites that generate about 8 million impressions monthly,
>and 17 e-mail newsletters with more than 3.5 million e-mails sent per
>month.
>
>AS400 Network -- This information network's core product is the AS/400
>market's most respected media brand, NEWS/400 magazine. It is published 14
>times a year to about 20,000 paid subscribers. The Network also includes:
>nine international editions of NEWS/400; Selling AS/400 Solutions, a
>distribution and sales channel magazine published bimonthly, with a
>circulation of 12,500; the AS400 online network (www.as400network.com),
>which generates more than 1 million impressions monthly; six e-mail
>newsletters with more than 600,000 e-mails sent per month; a conference
>series; and books.
>
>Business Finance Group -- This group's key property is Business Finance
>magazine, published monthly, with a controlled circulation of 50,000.
>Business Finance provides financial executives with information on changing
>technology and economic trends, and explores the implications of these
>trends on readers' business practices and career development. The magazine
>has a companion Web site (www.businessfinancemag.com) and nine electronic
>newsletters.
>
>Duke Communications Europe -- This wholly owned business in Manchester,
>England, sells subscriptions and advertising for Duke's U.S. media products
>and local-market products throughout Europe. Local products include
>NEWS/400.uk magazine and its online network (www.as400network.com/uk).
>Translated versions of NEWS/400 and Windows 2000 Magazine are published
>under license in 12 countries.
>
>About Penton Media
>
>Penton Media is a leading diversified business media company that produces
>market-focused magazines, Web sites, trade shows, and conferences. Penton's
>integrated media portfolio serves the following market sectors:
>Internet/broadband; natural products/food/retail; manufacturing;
>electronics; design/engineering; management; supply chain/aviation;
>government/compliance; mechanical systems/construction; and
>leisure/hospitality.
>
>Statements in this document that are not historical in nature are
>forward-looking statements. Although Penton believes that its expectations
>are based upon reasonable assumptions within the bounds of its knowledge of
>its business, there can be no assurance that the Company's financial goals
>will be realized. Numerous factors may affect the Company's actual results
>and may cause results to differ materially from those expressed in
>forward-looking statements made by or on behalf of the Company. Certain of
>such factors are detailed in reports filed with the Securities and Exchange
>Commission. Other factors include, without limitation, the receptivity of
>the Company's Internet businesses by its customers and the ability of the
>Company to execute its Internet strategy.
>
>
>
>
>
><<Business Wire, 08-30-00, 18:07 Eastern>>
>
>CONTACT: Penton Media | Mary Abood, 216/931-9551 | mabood@penton.com | or |
>Duke Communications | Dave Duke, 970/663-4700 | dduke@duke.com
>
>
>
>FOR INFORMATION ONLY
>Data and information is provided for informational purposes only, and is
>not intended for trading purposes. Neither NewsEdge, eLogic nor any of its
>data or content providers shall be liable for any errors or delays in the
>content, or for any actions taken in reliance thereon.
>
> Copyright © 2000, NewsEdge Corporation
>No redistribution allowed.
>
>___________________________________
>Hellena Smejda, WordsWorth International
>Tel: 815/736-9902, fax -9903
>hsmejda@interaccess.com
>___________________________________
>
+---
| This is the Midrange System Mailing List!
| To submit a new message, send your mail to MIDRANGE-L@midrange.com.
| To subscribe to this list send email to MIDRANGE-L-SUB@midrange.com.
| To unsubscribe from this list send email to MIDRANGE-L-UNSUB@midrange.com.
| Questions should be directed to the list owner/operator: david@midrange.com
+---