Time Inc. to Acquire Times Mirror Magazines from Tribune Co.

Posted on October 23, 2000

Time Inc. has reached a definitive agreement to acquire Times Mirror Magazines from Tribune Company. The purchase price is $475 million in cash. Times Mirror magazines publishes Golf, Ski, Skiing, Popular Science, Field & Stream, Yachting and other titles.

In making the announcement, Don Logan, chairman and CEO of Time Inc., said, ``We're delighted to have the Times Mirror titles become part of Time Inc. We think that their vertical sports enthusiast titles are a perfect fit with the Sports Illustrated group.''

John W. Madigan, chairman, president and CEO of Tribune Company, said, ``Time Inc. is an ideal fit for Times Mirror Magazines. Time Inc. already is a leading publisher of many of America's most successful magazines, and with Times Mirror Magazines, it will be poised for additional success.''

In addition to their New York based titles such as Golf, Ski, Field & Stream, and Popular Science, Times Mirror Magazines also operates Trans World Media, which serves the youth market by publishing Trans World Snowboarding and Trans World Skateboarding and eleven others.

More from Writers Write