Times Mirror's new-media coaster ride

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Is Times Mirror Co. making a renewed push toward new media? Don't bet on it, despite a flurry of interactive activity last week.

The Los Angeles-based publisher, rocked by layoffs and losses last year, is acquiring Hollywood Online, a Santa Monica, Calif.-based company that designs movie promotions for the World Wide Web and online services. Hollywood Online becomes a subsidiary of Times Mirror and will operate as a separate company.

On the other coast, Times Mirror's New York-based magazine division is in final negotiations for a multititle online content deal--believed to be with America Online.

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