NEW YORK - Rupert Murdoch has agreed to pay $3 billion for Triangle Publications Inc., which owns TV Guide, the Daily Racing Form and Seventeen, his spokesman announced yesterday.
Walter Annenberg, the 80-year-old Triangle owner and former ambassador to Great Britain, chose to negotiate only with Murdoch, the owner of the Boston Herald, and to sell his holdings for far less than they might have gotten in an open auction, according to John Veronis, senior partner in Veronis, Suhler and Associates, the investment banker who arranged the transaction.
TV Guide is a highly profitable magazine with an audited circulation of 17 million copies, the largest of any US magazine. …
The Economist (US); February 20, 1988
The Washington Post; August 15, 2000
Multichannel News; October 21, 1996
The Washington Post; November 1, 2000
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