Primedia
is Channel One’s parent company. They have four divisions. One
division is called Education and Training. This division has
only three companies: Workplace Learning, Films for Humanities,
and Channel One News.
Primedia has repeatedly
said this division is not doing well. These three companies
remain "challenged" as company executives have told
analysts in quarterly conference calls. Primedia has signaled
that these three companies better get their acts together or
they are gone.
Yesterday, Primedia announced
their intention to "explore strategic options" for
Workplace Learning. In other words, they want everyone to know
they want to sell the company.
This is not good news for
the schoolhouse exploiters at Channel One News. Two years ago,
the Wall Street Journal ran a story saying Primedia was looking
for a company to invest in Channel One or buy it. No company
did either.
If Workplace Learning is
sold. There would be much more pressure on Primedia to increase
their efforts to dump Channel One since it would make little
sense to have a division containing only two poorly performing
companies that had little in common with the core business.
(Primedia is magazine publisher.)
Obligation’s Jim Metrock
said, "Parents, teachers and students have played an important
roll in reversing the fortunes of Channel One News. It was
a moronic idea in 1990 to make schoolchildren watch commercials.
It is even more stupid in 2004."
