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Exhibit 99.1
FOR IMMEDIATE RELEASE
CONTACTS:
From Penton Media - Mary Abood,
VP, Corporate Communications & Investor Relations
216-931-9551 or [email protected]
PENTON ACQUIRES STREAMING MEDIA, INC.,
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LEADING MEDIA COMPANY SERVING STREAMING MEDIA MARKET
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CLEVELAND, OH - September 28, 2000 - Penton Media, Inc. (NYSE: PME) today
announced it has completed the acquisition of Streaming Media, Inc., San
Francisco, a leading integrated media company serving the streaming media
market. Streaming Media, Inc. produces the Streaming Media East, Streaming Media
West and Streaming Media Europe trade shows, the streamingmedia.com Web site and
Streaming Media Magazine. The purchase price was $65 million, plus contingent
consideration of up to $35 million based on the achievement of specified
business targets in 2001.
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; information technology; electronics; natural
products/food/retail; manufacturing; design/engineering; management; supply
chain/aviation; government/compliance; mechanical systems/construction; and
leisure/hospitality.
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