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PRIMEDIA Enterprises Signs Deal To Expand Relationship With RadioShack - Update

(RealTimeTraders.com) - Friday, PRIMEDIA Inc. (PRM), a media company, said that its licensing merchandising division, PRIMEDIA Enterprises has signed a deal to expand its relationship with RadioShack Corp. (RSH) in 2004.

The New York-based PRIMEDIA, which teamed up with RadioShack in 2003 to develop and promote 1:10th scale radio controlled (RC) vehicles, said that RadioShack will add two new PRIMEDIA magazine brands to its 1:10th scale RC assortment with Hot Rod and 4 Wheel & Off-Road in 2004.

The company stated that 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.

Don Carroll, senior vice president, marketing, for RadioShack, stated, “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.”

PRM is currently trading up $0.02 at $2.67 on a volume of 250,545 shares.

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