(Telemedia Inc) said its (TelemediaPublishing Inc) subsidiary agreed to buy privately-owned
Harrowsmith and Equinox magazines for an undisclosed amount of
cash.
    Telemedia said the acquisition is expected to have a small
positive impact on short-term earnings.
    Harrowsmith, an alternative life-style magazine, is
Canada's seventh-largest paid circulation English-language
magazine while Equinox is the country's eighth largest. Each
has a circulation of about 160,000 copies.
     The magazine group had revenues of eight mln dlrs last
year and employs 50 people, Telemedia said.             
    Telemedia said it will also acquire a 10 pct interest in
the company which recently launched the U.S. edition of
Harrowsmith.
    The magazine's U.S. editiion, begun last year, now has a
paid circulation of 180,000, the company said.
    It said a final deal is expected in mid-April.
    Telemedia said the magazines' founder has agreed to
continue to provide editorial and publishing direction for the
magazines.
 Reuter
