November 8, 2000 7:42 AM

Christopher Byron: For five full years now, we've all been witness to the slow motion self- destruction of one of the most totally unnecessary companies in the history of the American media: K-III Communications Corp., or, as it is known these days, Primedia -- a company with no common theme to anything it owns or publishes, nor any reason for having been created in the first place except to help 1980s era takeover tycoon Henry Kravis push a mistake off his books when a crooked British press lord named Robert Maxwell slicked him out of taking over Macmillan publishing back in the late-1980s.

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