NYT to slash mag holdings

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The New York Times Co. plans to sell its tennis, sailing and ski businesses, including Tennis and Tennis Buyer's Guide; Cruising World and Sailing World; Snow Country and Snow Country Business. Revenues for these magazines were approximately $44 million in 1996. The titles "have not achieved financial returns that are consistent with our corporate goals," said Chairman-CEO Arthur Ochs Sulzberger. "Looking ahead, we will focus our resources on the Golf Company, where Golf Digest and Golf World are the market leaders, and we are expanding our related operations."

Copyright March 1997, Crain Communications Inc.

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