PRIMEDIA's Hot Rod and 4 Wheel & Off-Road Join Super Street in RadioShack's 2004 Radio Controlled Vehicle Line
NEW YORK--(BUSINESS WIRE)--Feb. 27, 2004--PRIMEDIA Enterprises, the licensing merchandising division of PRIMEDIA Inc., (NYSE:PRM) today announced an expanded relationship with RadioShack Corporation (NYSE: RSH) in 2004. PRIMEDIA teamed up with RadioShack in 2003 to develop and promote 1:10th scale radio controlled (RC) vehicles in conjunction with its Super Street and Lowrider magazines, as well as a new RC product platform called "XMODS Custom RC" that debuted in October 2003.
In 2004, RadioShack will add two new PRIMEDIA magazine brands to its 1:10th scale RC assortment with Hot Rod and 4 Wheel & Off-Road. RadioShack will also launch two new Super Street branded XMODS vehicles and accessory kits this year, along with a new 1:10th scale vehicle, building on the success of the 2003 model.
"Making sure we could offer tuner enthusiasts realistic features and options was essential to the long-term success of our new XMODS Custom RC product line," said Don Carroll, senior vice president, marketing, for RadioShack. "By joining with PRIMEDIA, we were able to tap into their intimate knowledge of the tuner market and create a fun and affordable product platform that has been readily embraced."
"In 2003, PRIMEDIA lent its automotive expertise and brand credibility to RadioShack to help them create an exciting new line of RC vehicles," said Jacqueline Blum, president, PRIMEDIA Enterprises. "Our understanding and connection to car and tuner enthusiasts proved invaluable to the development of the XMODS line and has proven that our brands can help move product off the shelves for our partners. RadioShack is one of the largest consumer electronics retailers in the marketplace and the category leader in radio-controlled vehicles. We've only just begun with RadioShack and the exciting XMODS Custom RC vehicles."
RadioShack's XMODS customized vehicles are 1:28th scale radio-controlled authentic vehicles that feature modifiable body types, accessories from top aftermarket companies, and reach speeds up to 15 mph with a stock kit and 20 mph with upgrades. Racing enthusiasts can compete with up to 12 cars at once on 12 different frequency bands.
About PRIMEDIA Enterprises
Established in May 2000, PRIMEDIA Enterprises represents the company's 250 consumer and trade publications for content and trademark licensing. Through brand extension and licensing partnerships, the group builds programs that create additional value for PRIMEDIA's properties and also manages the company's merchandising businesses through retail channels.
PRIMEDIA is the leading targeted media company in the United States. With 2003 revenues from continuing businesses of $1.3 billion, our properties deliver content via print as well as the Internet, live events and video and offer highly effective advertising and marketing solutions in some of the most sought after niche markets. PRIMEDIA Enthusiast Media includes more than 120 consumer magazines, their web sites and About.com, and is the .1 special interest magazine publisher in the U.S. 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 Homes Guide. PRIMEDIA Business Information has leading positions in 20 market sectors such as agribusiness, communications, entertainment, marketing and transportation. PRIMEDIA Education and Training includes Channel One and other educational and training products. PRIMEDIA's stock symbol is NYSE: PRM.
CONTACT: Sloane & Company, New York