Internet media company

About.com

(BOUT) - Get Report

rose 26.2% in preopen

Island

trading after

Primedia

TheStreet Recommends

(PRM)

said it would buy About.com for $690 million in stock, or $35.70 per share.

The price represents a 50% premium over Friday's close. Primedia publishes magazines like

New York

and

Seventeen

.