AFFILIATED PUBLICATIONS <AFP> TO BUY BILLBOARD
Affiliated Publications Inc said it
agreed to acquire all the outstanding stock of <Billboard
Publications Inc> for 100 mln dlrs in cash from a shareholder
group led by <Boston Ventures Limited Partnership.>
    Affiliated, which owns the company that publishes the
Boston Globe, said the acquisition will give it a strong
position in the growing market for specialty magazines.
    Under a separate agreement, Affiliated said that certain
members of Billboard's management plan to buy up to 10 pct of
the equity in Billboard following Affiliated's acquisition of
the company.
    Billboard publishes eight specialty magazines, including
Billboard magazine, and 15 annual directories. It also
publishes and distributes speciality books under four imprints
and operates two book clubs.
    Affiliated is the parent company of Globe Newspaper Co,
publisher of the Boston Globe. It also has interests in
cellular telephone and paging services providers.
 Reuter
