Penton looks to cash in on Internet stock

Penton Media Inc. in Cleveland could raise more than $75 million in early January by selling about half its stake in a Connecticut-based Internet company.

Penton, a business-to-business publishing and trade show company, plans to sell at least 2 million shares of Internet.com Corp. of Darien, Conn., according to prospectus filed Dec. 1 with the Securities and Exchange Commission. Internet.com plans to sell 1.75 million shares to the public on its own behalf as part of the same stock offering.

"We would apply some of (the proceeds from the sale) to existing debt, and we...