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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): May 1, 1998
THE TIMES MIRROR COMPANY
(Exact Name of Registrant as Specified in Charter)
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<S> <C> <C>
DELAWARE 1-13492 95-4481525
(State of Incorporation) (Commission File No.) (IRS Employer Identification No.)
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TIMES MIRROR SQUARE, LOS ANGELES, CALIFORNIA 90053
(Address of Principal Executive Offices) (Zip Code)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (213) 237-3700
NONE
(Former Name or Address, if Changed Since Last Report)
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Item 5. Other Events.
In a press release dated May 1, 1998, The Times Mirror Company
("Times Mirror") announced the completion of its acquisition of Recycler
Classifieds' Los Angeles area publications and the formation of a new company,
Target Media Partners, jointly owned by Times Mirror, DLJ Merchant Banking
Partners, and former Recycler management and other shareholders. Target Media
Partners will own and operate the remaining Recycler publications outside of
the Los Angeles.
Attached as Exhibit 99 and incorporated herein by reference to this
Form 8-K is a copy of the press release, dated May 1, 1998, of Times Mirror.
Item 7. Exhibits
(c) Exhibits
99 Press Release issued by The Times Mirror Company on
May 1, 1998
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
THE TIMES MIRROR COMPANY
(Registrant)
Date: May 5, 1998 By: /s/ Thomas Unterman
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Thomas Unterman
Executive Vice President and
Chief Financial Officer
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EXHIBIT 99
For Immediate Release
Times Mirror Completes Acquisition
of Recycler Classifieds
LOS ANGELES, CALIFORNIA, May 1, 1998 - Times Mirror announced today the
completion of its acquisition of Recycler Classifieds' Los Angeles area
publications and the formation of a new company, Target Media Partners, jointly
owned by Times Mirror, DLJ Merchant Banking Partners, and former Recycler
management and other shareholders. Target Media Partners will own and operate
the remaining Recycler publications outside of the Los Angeles area and continue
the national acquisition program commenced by Recycler's management.
Recycler's Los Angeles operations include 24 editions of Recycler
Classifieds, AutoBuys, TruckBuys, CycleBuys, RVBuys, Boat Buys, EZ Action Ads,
Pix Ads, Trade Express, Auto Seller and The Renter, with an average weekly
circulation in excess of 400,000 paid and free copies. Also included is
recycler.com, an online classified service featuring over 100,000 new classified
ads each week, and an interest in Recycler Auto Services, an auto finance and
insurance venture which will be co-owned with Target Media Partners.
Target Media Partners will operate 25 publications in California, Michigan,
Arizona, Nevada, Georgia, Tennessee, South Carolina, and Alabama. Target Media
will seek to acquire local, regional and specialty publications with proven
track records of profitability, established market positions and entrepreneurial
management, and to add value by implementing new incentives, proprietary
systems, and operating efficiencies.
Donaldson, Lufkin & Jenrette is a leading integrated investment and
merchant bank serving institutional, corporate, government and individual
clients. DLJ's businesses include securities underwriting; sales and trading;
merchant banking; financial advisory services; investment research; venture
capital; correspondent brokerage services; online, interactive brokerage
services and asset management. Founded in 1959 and headquartered in New York
City, DLJ employs approximately 7,000 people worldwide and maintains offices in
14 cities in the United States and 10 cities in Europe, Latin America, Asia and
South Africa. For more information on Donaldson, Lufkin & Jenrette, refer to the
company's World Wide Web site at http://www.DLJ.com.
Times Mirror, a Los Angeles-based news and information company, publishes
the Los Angeles Times, Newsday, The Baltimore Sun, The Hartford Courant, The
Morning Call, and The (Stamford) Advocate and Greenwich Time; professional
information for the legal, health sciences, health promotion, aviation and
training markets, and consumer magazines. Times Mirror newspapers have won a
total of 58 Pulitzer Prizes, among the highest of any news and information
company in the country.
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Press Information: Investor Information:
Martha H. Goldstein Jean M. Jarvis
(213) 237-3727 (213) 237-3955
