Alloy Acquires Carnegie Communications

Apr 18, 2001 9:30 PM  By

New York–Teen apparel and accessories cataloger Alloy has acquired Carnegie Communications, a publisher of college admissions resources. Under the terms of the agreement, Alloy has issued approximately 1.3 million shares of stock and paid $5 million in cash and future consideration to complete the acquisition. Carnegie publishes more than 30 annual publications, which profile leading colleges and universities that pay a fee to appear in the publications. The resource magazines each year reach more than 3.7 million high school students, parents and counselors.