"The Company anticipates
that a capital investment will be required after 2003 to continue
the current business operations and to maintain profit margins at
Channel One. PRIMEDIA expects spending would begin in 2004 and extend
over a three-year period. However, management is pursuing alternative
solutions which would decrease the required capital investment of
the Company and provide additional significant revenue streams."
From "Contingencies" section of Primedia’s Quarterly
Report (SEC form 10-Q) published 5/15/03.
