Trinity Learning Corporation and PRIMEDIA Inc. Announce Asset
Purchase Agreement
BERKELEY, Calif., April 4 /PRNewswire-FirstCall/ -- Trinity Learning
Corporation (OTC:TTYL) (BULLETIN BOARD: TTYL) announced today that it has
completed an asset purchase agreement with PRIMEDIA Inc. (NYSE:PRM), the
leading targeted media company. Trinity Learning, a publicly-held learning
company specializing in workplace learning and certification, has acquired
certain assets related to PRIMEDIA's Workplace Learning division (PWPL). No
terms or conditions were disclosed.
Trinity Learning will acquire assets, including content libraries, trademarks,
brands, intellectual property, databases, and physical assets. Included in the
sale are certain video production and distribution capabilities used to deliver
integrated learning solutions to professionals in the homeland security,
healthcare, industrial, fire & emergency, government, law enforcement and
private security markets currently served by PWPL.
Doug Cole, CEO of Trinity Learning, stated, "We are very excited to acquire
these operating assets from PRIMEDIA. This transaction is a major step in our
announced strategy to focus on workplace learning and certification services in
North America. We were attracted to the innovative content, custom solutions,
technology and 'any time/anywhere' delivery training programs. We are also
excited to add to our company the workplace learning professionals located in
the Carrollton, Texas office and production facility that will become Trinity
Learning's primary North American content production, distribution, and
customer service center." This transaction follows on PRIMEDIA's announcement in September 2004 that it
was exploring strategic options for its Workplace Learning Division. Along
with the sale on March 31st of Bankers Training & Consulting Company, the
financial services division of PWPL, this transaction completes PRIMEDIA's
divestiture of PWPL. As previously announced, PRIMEDIA will retain its
Interactive Medical Networks division.
About PRIMEDIA, INC.
PRIMEDIA is the leading targeted media company in the United States. With 2004
revenue of $1.3 billion, our properties comprise more than 200 brands that
connect buyers and sellers in more markets than any other media company through
our print publications, Web sites, events, newsletters and video programs in
four business segments: Enthusiast Media, Consumer Guides, Business
Information, and Education. PRIMEDIA Enthusiast Media includes more than 120
consumer magazines, with well-known brands such as Motor Trend, Automobile,
Creating Keepsakes, In-Fisherman, Power & Motoryacht, Hot Rod, Snowboarder,
Stereophile and Surfer. PRIMEDIA Consumer Guides is the #1 publisher and
distributor of free consumer guides, with Apartment Guide, Auto Guide and New
Home Guide. PRIMEDIA Business Information has more than 60 publications in 18
market sectors. PRIMEDIA Education includes Channel One and other educational
products.
About Trinity Learning Corporation Trinity Learning Corporation, a publicly held Utah corporation, is a global
learning company specializing in technology-enabled workplace learning and
certification services for major customers in multiple global industries. Trinity Learning is achieving market presence in geographic markets worldwide
by acquiring and integrating companies providing innovative workplace learning
solutions in targeted regions and industry segments. Trinity Learning intends
to increase market penetration and the breadth and depth of its products and
services through additional acquisitions, licensing, strategic alliances,
internal business development, and the expansion of sales offices around the
world. For more information, visit http://www.trinitylearning.com/.
FORWARD LOOKING STATEMENTS -- DISCLAIMER -- RISKS This press release contains forward-looking statements, including statements
about the expected growth and development of Trinity Learning's business, the
business of Intense School, and the combined company's future financial and
operating results, the timing, effects and any synergies that may result from
the proposed merger. Statements herein which are not statements of historical
fact are forward- looking statements within the meaning of the Safe Harbor
Provision of the Private Securities Litigation Reform Act of 1995. Such
statements are based on the current expectations and beliefs of the management
of Trinity Learning Corporation and are subject to a number of factors and
uncertainties that could cause actual results to differ materially from those
described in the forward-looking statements including, without limitation, the
ability of the company to sustain customer interest in its core products. For a
more detailed discussion of risk factors that affect our operating results,
please refer to our SEC reports including our most recent reports on Form
10-KSB and Form 10-QSB. DATASOURCE: Trinity Learning Corporation CONTACT: Douglas Cole, CEO of Trinity Learning Corporation, +1-510-540-9300 Web site: http://www.trinitycompanies.com/
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