Times Mirror to Sell National Journal
Posted on June 11, 1997
Times Mirror announced that it has reached an agreement in principle to sell National Journal Inc. to David G. Bradley, a Washington publisher and founder of The Advisory Board Company, and a group of senior National Journal executives led by Chief Executive Officer and President John Fox Sullivan. National Journal Inc., located in Washington, is a leading publisher of magazines, daily newsletters, books and directories on politics and government. Terms of the agreement were not disclosed.
"We are pleased to have found a high quality buyer for National Journal Inc.," said Mark H. Willes, Times Mirror chairman, president and chief executive officer.
Said David G. Bradley, "Twenty years ago National Journal got me through Swarthmore College. It will be a privilege to repay some of that debt."
Sullivan, who has been with National Journal since 1975, said the sale would allow National Journal Inc. to strengthen its current businesses and develop new ones. "We are delighted to be teaming up with David Bradley," said Sullivan. "He has achieved spectacular results by emphasizing quality and by treating employees with respect, a business philosophy that we share. David and I are committed to dramatically expanding National Journal's position in the Washington marketplace."
