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THE NEW YORK TIMES COMPANY DIVESTS BPI COMMUNICATIONS

 NEW YORK, Jan. 14 /PRNewswire/ -- The New York Times Company (AMEX: NYT.A), Boston Ventures and the management of BPI Communications, L.P., today announced that a definitive agreement was reached to sell 100 percent of BPI for $220 million in cash to VNU, a Dutch-based publishing and information company. The Times Company acquired its one-third interest in BPI through its October 1993 merger with Affiliated Publications, Inc.
 The Times Company expects to receive net proceeds of approximately $55 million when the transaction is completed in the first quarter of 1994. For financial reporting purposes, no gain or loss will be recognized on the transaction.
 The New York Times Company is a diversified media company with revenues in excess of $2 billion and has the following lines of business: newspapers, magazines, broadcasting, information services and forest products. In addition to The New York Times, the company publishes The Boston Globe and 31 regional newspapers and owns a one-third interest in the International Herald Tribune; publishes 20 magazines; operates five network-affiliated television stations, two radio stations, a news service and other information services, and has interests in two newsprint mills and one supercalendered paper mill.
 The company's Class A shares are traded on the American Stock Exchange under the symbol NYT.A.
 -0- 1/14/94
 /CONTACT: Nancy Nielsen, 212-556-7078, or William Adler, 212-556-7077, both of The New York Times Company/
 (NYT)


CO: The New York Times Company; Boston Ventures; VNU; BPI
 Communications, L.P. ST: New York IN: PUB ENT SU: TNM


CK-TM -- NY075 -- 2230 01/14/94 19:17 EST
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Publication:PR Newswire
Date:Jan 14, 1994
Words:261
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