CBS Sells Publishing Division
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Associated Press
NEW YORK — Broadcasting giant CBS Inc. announced the sale today of its educational and professional publishing division for $500 million to Harcourt Brace Jovanovich, a leading publisher of textbooks and periodicals.
The transaction, which had been rumored on Wall Street, is the first big sale of a CBS unit since Laurence A. Tisch became acting chief executive of the company last month in a management shake-up. It will also enhance Harcourt Brace’s position in educational and medical publishing.
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