Primedia and it's guides earn some money

BY SDH Primedia, a one time consumer magazine giant which has since slimmed down to Apartment and car guides posted a quarterly profit on the strength of the apartment segment. Is this an indication the more and more people are looking for apartments instead of houses due to the current mortgage crisis? Primedia was the mother ship for dozens of titles which have since been sold off in groups and have since been turned into companies. Primedia's outdoor group was sold to InterMedia Partners which spun the group of outdoor titles like Hunting, Game & Fish, Guns & Ammo and others into a company called InterMedia Outdoors. Primedia's enthusiast media titles like Slam, Motor Trend, Soap Opera Digest and about 67 other titles were sold off to Ron Burkle's Source Interlink Companies. Primedia said the apartments segment, which made up about 80 percent of its advertising revenue in the fourth quarter, would gain in 2008 from improving conditions in the apartment-leasing sector with occupancy rates falling slightly to more normalized levels in some markets. Primedia posts quarterly profit from cont ops [Reuters]