Penton Media Buys Farm Progress From Fairfax Media

              Penton Media Buys Farm Progress From Fairfax Media

Acquisition creates largest, most diversified agriculture information business
in North America

Fits perfectly with Penton's strategic growth agenda

PR Newswire

NEW YORK, Nov. 13, 2012

NEW YORK, Nov. 13, 2012 /PRNewswire/ --Penton Media today acquired Farm
Progress from Fairfax Media Limited of Sydney, Australia, significantly
expanding its agriculture sector footprint to become the largest and most
diversified agriculture information business in North America, offering live
events, digital products, data, marketing services and publications. This
acquisition directly supports a key Penton strategy of increasing investment
in existing sectors that offer strong long-term growth potential, and it more
than doubles Penton's position in agriculture, which becomes the company's
largest sector group. The purchase price was $79.9 million before certain
adjustments.

The acquisition boosts Penton's US agriculture market coverage, connecting it
to nearly 75% of the 2.2 million farms and ranches in the US and an estimated
85% of the nation's annual agricultural gross domestic product.

Farm Progress features four of the industry's leading farm trade events,
including the nation's largest outdoor farm show, a robust broadcast division,
and many well-established media brands. They join Penton Agriculture's
portfolio of market-leading franchises.

AGRICULTURE: A LONG-TERM, GLOBAL GROWTH INDUSTRY
"Our investment is supported by several inarguable global economic trends
including rising demand for nutrition, limited arable land and water, and
strong export potential for agriculture products, capital equipment and
related production technology into developing countries," said Penton CEO
David Kieselstein.

"The world looks to the US as the center of innovation in agri-science, which
gives Penton a unique opportunity to help this industry grow both domestically
and internationally," he said.

HOW FARM PROGRESS FITS INTO PENTON
"We've always had tremendous respect and admiration for Farm Progress and its
products. We also have a clear, strategic commitment to grow our agricultural
information business, and Farm Progress perfectly supports that goal,"
Kieselstein said.

"Farm Progress is a high quality company – the team has delivered excellent
organic revenue and EBITDA growth," he continued. "Moreover, this business
fits with Penton's heightened focus on properties that have high levels of
user engagement. The fact that Farm Progress events attract more than 200,000
attendees from across the agriculture community every year is a prime example
of that value."

The business case for combining Penton Agriculture and Farm Progress is
compelling: the two companies have deep market and content expertise, but the
agriculture sub-industries and geographies they serve have minimal overlap.
Together, they represent a uniquely powerful strategic reach advantage for any
agriculture marketer looking to maximize their business results.

Farm Progress will become part of the Penton Agricultural Group reporting to
Penton Senior Vice President, Dan Bagan. Jeff Lapin, president of Farm
Progress, will leave the company at the end of the year.

Farm Progress will remain headquartered in St. Charles, IL.

Seebelow for a current listing of combined Penton Agriculture Media and Farm
Progress brands.

About Penton Media, Inc.
For millions of business owners and decision-makers, Penton makes the
difference every day. We engage  our professional users by providing
actionable ideas and insights, data and workflow tools, community and
networking, both in person and virtually, all with deep relevance to their
specific industries. Then we activate  this engagement by connecting users
with tens of thousands of targeted providers of products and services to help
drive business growth. Learn more about our company at www.penton.com.

Penton is a privately held company owned by MidOcean Partners and U.S. Equity
Partners II, an investment fund sponsored by Wasserstein & Co., LP.

CONTACT:
Chris Meyer, Director, Corporate Communications
Phone: (212) 204-4259
Email: chris.meyer@penton.com

PENTON AGRICULTURE
PRODUCTS AND SERVICES

PUBLICATIONS
Beef
Corn & Soybean Digest
Farm Industry News
Delta Farm Press
Hay & Forage Grower
National Hog Farmer
Southeast Farm Press
Southwest Farm Press
Western Farm Press

FARM PROGRESS
PRODUCTS AND SERVICES

EVENTS
Farm Progress Show
Husker Harvest Days
Farm Progress Hay Expo
NY Farm Show

PUBLICATIONS
American Agriculturist
Beef Producer
California Farmer
Carolina-Virginia Farmer
Dakota Farmer
Farm Futures
Feedstuffs
Indiana Prairie Farmer
Kansas Farmer
Irrigation Extra
Michigan Farmer
Mid-South Farmer
Missouri Ruralist
Nebraska Farmer
Ohio Farmer
Prairie Farmer
Southern Farmer
Tack 'n Togs
The Farmer-Stockman
The Farmer
Wallaces Farmer
Western Farmer-Stockman
Wisconsin Agriculturist

BROADCASTING
Farm Progress America

SOURCE Penton Media, Inc.

Website: http://www.penton.com
 
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