Times Mirror to Buy Broadcasting, Scientific Publishers
LOS ANGELES (AP) _ Times Mirror Co. said Friday it has agreed to buy Broadcasting Publications Inc. of Washington, D.C., for $75 million cash and CRC Press Inc., a Florida- based publisher of scientific journals, for an undisclosed price.
The seperate deals are subject to working out definitive agreements and receiving approvals from the boards of directors.
Broadcasting Publications puts out the trade magazine Broadcasting and related journals.
Broadcasting magazine was founded 55 years ago by Sol Taishoff and has chronicled virtually the entire history of the radio, television, cable and satellite communications industry.
Broadcasting Publications is now headed by Lawrence B. Taishoff, son of the founder. He will remain as publisher, Times Mirror said.
″We are delighted to add this extraordinary property to our publishing group,″ said Robert Erburu, chairman, president and chief executive of Times Mirror. ″Broadcasting will form the nucleus of a trade publication cluster, an important strategic objective of the company.″
Separately, Times Mirror added to its scientific-publications unit with its agreement to acquire CRC Press of Boca Raton, Fla.
CRC, founded in 1901, is a privately held publisher of scientific, medical and technical reference journals controlled by Florence and Bernard Starkoff.
CRC will remain based in Boca Raton but will become part of Times Mirror’s Year Book Medical Publishers of Chicago.