LM_NET: Library Media Networking
Someone reported on LM_NET yesterday having heard CNN report of leveraged
buy out of Whittle Communications Educational Network. While "gophering"
around this am I found an article from Los Angeles Times TimesOnline re
this event. The article is lengthy, but the headline reads "Whittle to
Sell Channel One - - Media K-III Communications plans to buy firm's
educational network for nearly $300 million, executives say"
PUBLICATION DATE: Wednesday August 10, 1994
1st paragraph reports that Whittle Communications is
close to selling the Whittle Educational Network to publishing giant
K-III Communications Corp. for nearly $300 million, executives close to
the negotiations confirmed Tuesday.
The article reports that Whittle is downsizing because of loss of
advertising. K-III, which publishes Seventeen and Weekly Reader among
others, owns a company that distributes CD-ROMS to the educational market
and a source close to the company says "it could use Whittle's system to
deliver this and other content to the schools".
This sale does not include the Edison Project. The article says
Whittle would continue to run Channel One for K-III but several experts
expect him to devote more time to the Edison Project.
Since I have this gopher resource 'bookmarked', I don't remember the
original path I took to find it, but if you can get the LA Times
TimesOnline, it is in the Money section. I found it by searching Whittle
Communications at that directory.
It is originally from AmeriCast-Post@AmeriCast.com
Joyce Miller
Library Media Specialist
Warrensburg High School
Warrensburg, Missouri 64093
jmiller@services.dese.state.mo.us
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