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TIME INC. ACQUIRES MEDIA ONE

 TIME INC. ACQUIRES MEDIA ONE
 NEW YORK, May 13 /PRNewswire/ -- Time Inc. has acquired Media One,


it was announced today.
 Terms of the acquisition were not disclosed.
 Media One is the nation's second largest in-store advertising company. Its network of advertising units are on display in over 6,000 major grocery stores including major chains such as Safeway, Kroger, Food Lion, and Winn- Dixie. The company's most recognizable product is a two-sided backlit display which appears at each checkout lane.
 In making the announcement, Reginald K. Brack, Chairman, President and CEO of Time Inc., said, "This acquisition is important to us strategically. It allows us to enter the fastest growing sector of the marketing landscape and broadens the marketing products and services that we can make available to our customers."
 Media One will be a subsidiary of Time Publishing Ventures, the Time Inc. unit that includes the company's regional and special interest businesses and its worldwide development activities.
 Robert L. Miller, president of Time Publishing Ventures, said, "We are enthusiastic about entering the in-store arena, which is a rapidly growing business. The advertising audience that the in-store network delivers complements the audiences of Time Inc.'s various titles and will undoubtedly also enhance our circulation efforts at the supermarket checkout counter. While we are purchasing this business because of its ability to stand on its own, we also believe that there are some excellent benefits that will flow to our other properties."
 Fred Dallal, CEO of Media One, added, "This relationship with Time Inc. will allow us to achieve a new level of growth by providing us with greater access to clients, access to additional in-store merchandising support via Time Distribution Services, and the financial resources with which to rapidly expand our product offerings."
 Jeff Myers, President of Media One, said, "Media One and Time Inc. are a tremendous fit. Our company is an outstanding platform from which Time Inc. can build a solid in-store advertising and promotion company. The advertising sales efforts of both entities clearly complement one another."
 Time Inc., America's largest magazine publisher and a leading marketer of books, music and videos, is a wholly owned subsidiary of Time Warner Inc. (NYSE: TWX). Time Warner is the world's leading media and entertainment company, with interests in magazine and book publishing, recorded music and music publishing, filmed entertainment, cable television and cable television programming.
 -0- 5/13/92
 /CONTACT: Peter Costiglio of Time Inc., 212-522-3927/
 (TWX) CO: Time Inc.; Media One ST: New York IN: PUB SU: TNM


SB -- NY079 -- 9765 05/13/92 14:18 EDT
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:May 13, 1992
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