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SCRIPPS SELLS PHAROS BOOKS

 CINCINNATI, Feb. 16 /PRNewswire/ -- The E.W. Scripps Company (NYSE: SSP) today completed the sale of Pharos Books, publisher of "The World Almanac," and an offshoot company, World Almanac Education, to K-III Communications Corporation.
 The sale price was approximately $30 million and will result in an after-tax gain of about $11 million (15 cents per share).
 Pharos Books, based in New York, is a publisher of nonfiction and reference titles. "The World Almanac," published annually since 1886, is the world's largest single-volume reference book. Educational materials, including those developed from the almanac, are marketed through World Almanac Education, based in Cleveland.
 K-III, based in New York, is a publishing, media and communications company.
 The E.W. Scripps Company operates 21 daily newspapers, 10 television stations, five radio stations, and cable television systems with 672,000 basic subscribers. The company also is a worldwide syndicator and licensor of news features and comics.
 -0- 2/16/93
 /CONTACT: Rich Boehne of The E.W. Scripps Company, 513-977-3826/
 (SSP)


CO: The E.W. Scripps Company; K-III Communications Corporation ST: Ohio, New York IN: PUB SU:

BM -- CL021 -- 6903 02/16/93 15:35 EST
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Publication:PR Newswire
Date:Feb 16, 1993
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