Thursday, Sept. 12, 2002 | 11:08 a.m.
The chairman and chief executive of the company that produces the annual Comdex computer trade show in Las Vegas has liquidated his stake in the company by selling his 440,000 shares of stock.
Frederic Rosen sold the shares in Key3Media Group Inc., Los Angeles, for between 2.3 cents and 3.1 cents a share, company officials said Wednesday.
A spokesman for Key3Media said Rosen enjoyed gains in the beginning of the year and the stock was sold for tax-planning purposes.
Key3Media, delisted from the New York Stock Exchange earlier this year when the issue's price fell below $1 a share, has struggled financially, but Rosen said the company is reviewing all corporate expenses to reduce costs. He has said the company's 2002 Comdex show in November will be conducted on schedule.
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