Announcement soon on 'Wired' fate

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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.

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