BONITA SPRINGS, FL—Source Interlink Companies Inc., (NASDAQ:SORC), which sells merchandising services for home entertainment products, will acquire PRIMEDIA Inc.’s (NYSE:PRM) Enthusiast Media division for $1.2 billion in cash.

The acquisition combines EM’s 70 magazine titles and 90 Web sites with Source Interlink’s magazine distribution and merchandising platform. EM titles include Motor Trend, Hot Rod, Soap Operat Digest, Surfer and many other niche magazines and Web sites.

EM had revenues of $524.8 million. Source Interlink estimates that the combined companies generate approximately $2.4 billion in revenue and more than $180 million in EBITDA on an annualized basis.

To fund the acquisition, Source Interlink has secured a financing commitment from Citigroup Global Markets, Inc.

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