Times Mirror to Sell Gousha Map Operation
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Times Mirror Co. on Friday said it has agreed to sell H. M. Gousha Co., a publisher of maps, atlases and car-care manuals, to Simon & Schuster. Terms were not disclosed.
Simon & Schuster is a subsidiary of Gulf & Western Industries and publishes through its travel publications group Baedeker’s Companion, Frommer’s, Access, American Express, Insight, Les Guides Bleus, Mobil and Phaidon.
Times Mirror said the sale, which is expected to close before year’s end, is part of its overall restructuring into its core businesses of newspapers, magazines, cable and broadcast television, as well as professional and scientific print and electronic publishing.
Based in Los Angeles, Times Mirror owns eight newspapers, including the Los Angeles Times, Newsday, the Baltimore Sun, Hartford Courant and the Denver Post.
Times Mirror acquired Gousha, which is based in San Jose, in 1961.
The sale requires Justice Department approval and the signing of a definitive agreement by both sides.
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