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DISNEY AGREES TO BUY FAMILYFUN MAGAZINE

 DISNEY AGREES TO BUY FAMILYFUN MAGAZINE
 BURBANK, Calif., Feb. 11 /PRNewswire/ -- The Walt Disney Co. has


agreed to acquire FamilyFun, a family magazine launched in 1991 by an executive at U.S. News and World Report.
 Jake Winebaum, who founded the magazine as a joint venture with U.S. News, will continue as publisher and editor of FamilyFun. Terms of the sale were not disclosed.
 "FamilyFun is the perfect addition to our magazine publishing effort," said Stephen McBeth, executive vice president for Disney Consumer Products in the United States and Canada. "Jake Winebaum has done a great job with an original idea. FamilyFun captures exactly what Disney is all about."
 Said John Skipper, vice president of Disney magazine publishing: "We are extremely impressed with the creative voice and direction of FamilyFun. We believe a magazine about fun and family entertainment addresses a real need in the marketplace. Our goal will be to maintain the magazine's uniqueness while giving it our enthusiastic support."
 FamilyFun covers family travel, entertainment, education at home, nature and the environment, and other family interests.
 Two issues of FamilyFun were published in 1991. The next issue will appear on newsstands in May, beginning a schedule of six issues per year. Plans are to publish 10 issues per year by 1994.
 "I'm pleased to have such a strong partner for the magazine," Winebaum said. "FamilyFun and Disney share the same customer base: families with kids three to 12.
 "The first two issues enjoyed a tremendous reception from advertisers and on the newsstand. Our next critical phase is subscription growth and no company has more ways to reach our target audience than Disney," Winebaum said.
 Winebaum, 32, was a senior vice president at U.S. News. He joined the company in 1985. U.S. News supported Winebaum's efforts to develop FamilyFun.
 "FamilyFun has been a remarkable success story in an otherwise gloomy magazine environment," said Fred Drasner, president and chief executive officer of U.S. News and World Report. "We feel the magazine's circulation potential will be maximized with Disney. In today's climate, a new magazine must have ready access to the right customer base. Disney will be able to provide FamilyFun with that access."
 Disney and U.S. News are exploring ways to work together on an on- going basis surrounding FamilyFun.
 FamilyFun will become part of the Disney Publishing Group within Disney Consumer Products. The other titles within Disney's magazine publishing group are Disney Adventures, for children 7 to 14, launched in the fall of 1990, and Discover magazine, covering science for the layman, acquired in September 1991.
 -0- 2/11/92
 /CONTACT: Chuck Champlin of the Walt Disney Co., 818-567-5959/ CO: Walt Disney Co. ST: California IN: ENT PUB SU: TNM


DM-SE -- LA006 -- 8696 02/11/92 10:02 EST
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Date:Feb 11, 1992
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