Primedia

    Pomerantz is investigating potential claims on behalf of investors of Primedia, Inc. (“PRM” or the “Company”) (NYSE: PRM) concerning the proposed acquisition of PRM by funds affiliated with TPG Capital.

    The investigation concerns whether the board of directors breached their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, PRM shareholders will receive $7.10 per share in cash in an all-cash transaction valued at $525 million. However, the offer price is low compared to net income multiples in comparable deals. Further, KKR & Co. owns a 58% stake in the company, and has already executed a written consent approving the transaction, effectively removing the need for shareholder approval.

    PRM shareholders seeking more information about this acquisition are advised to contact Gustavo Bruckner, Esq. at gfbruckner [at] pomlaw [dot] com or 212-661-1100 or toll free at 888-476-6529, ext. 302. Shareholders may also contact Rachelle R. Boyle at rrboyle [at] pomlaw [dot] com or 212-661-1100 or 888-476-6529, ext. 237.