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K-III COMMUNICATIONS CORPORATION COMMENCES EXCHANGE OFFER FOR ITS STOCK

 NEW YORK, June 9 /PRNewswire/ -- K-III Communications Corporation announced today that it commenced an exchange offer to swap its $11.625 Series B Preferred Stock for its outstanding $11.625 Series A Exchangeable Preferred Stock.
 When complete, this exchange offer will satisfy the requirements of the registration rights agreement between the company and the holders of the Series A Exchangeable Preferred Stock. The terms of the Series B Exchangeable Preferred Stock are identical to the terms of the Series A Exchangeable Preferred stock, except that the Series B Exchangeable Preferred Stock is being issued in a registered public offering while the Series A Exchangeable Preferred Stock was issued in a transaction exempt from registration and is restricted stock.
 A written prospectus describing the exchange offer may be obtained from D. Roger Glenn, Deputy General Counsel, K-III Communications Corporation, 745 Fifth Avenue, New York, N.Y. 10151.
 K-III Communications is a diversified publishing, information and direct response company. Its properties include such well known publications as Seventeen and New York magazines, Weekly Reader, Daily Racing Form and Funk & Wagnalls Encyclopedia. K-III's preferred stock is traded on the New York Stock Exchange.
 -0- 6/9/93
 /CONTACT: Gregory William Miller of Robinson, Lake, Lerer & Montgomery/Sawyer Miller Group, 212-484-7404, for K-III Communications/


CO: K-III Communications Corporation ST: New York IN: PUB SU:

WB-LR -- NY058 -- 0256 06/09/93 15:36 EST
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Publication:PR Newswire
Date:Jun 9, 1993
Words:229
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