Bids due for Times Mirror magazines

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First-round bids are due today for the Times Mirror magazine group being sold by Tribune Co. Companies submitting bids include Ziff Davis Media--though CEO Jim Dunning may bid for the group outside Ziff Davis' auspices--Gruner & Jahr USA Publishing, Primedia, American Media and Hachette Filipacchi Magazines. EMAP USA is considered a possible suitor, and the New York Times Co. is mentioned as a potential dark-horse candidate. An executive involved with the bidding process said the sellers believe the ultimate sale price will be between $400 million and $500 million, but that many initial bids would be in the low $300 million range.

Copyright August 2000, Crain Communications Inc.

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