Officials at Wired Ventures, San Francisco, said an announcement is planned later this week that might shed light on the company's future. They declined comment on a report in the San Jose Mercury-News that Wired
will be sold to Miller Publishing, owner of Spin
, for $74 million. One Wired Ventures spokeswoman said no deals have gone through; another admitted the company is talking to several buyers. Wired Ventures has been shopping the magazine through Lazard Freres & Co. since last fall. The drive for a sale or new capital is said to have been pushed by lead investor Providence Equity Partners.
Copyright May 1998, Crain Communications Inc.