P. M. BRIEFING : Murdoch to Sell 2 Publishing Units

Reed International said today that it has agreed to buy the worldwide travel and electronic publishing divisions of Rupert Murdoch’s News Corp. for $825 million in cash.

Reed, a London-based publisher of travel information in Asia and Europe through its ABC International subsidiary, said the acquisition, subject to shareholder approval, would give it a stake in the fast-growing U.S. travel market.

A spokesman for News Corp. said cash from the sale of the divisions, including the flagship Hotel & Travel Index, would be used to reduce debt associated with the company’s $3-billion takeover last year of Triangle Publications Inc., the parent company of TV Guide.

News Corp.’s travel group is made up of six directories and two periodicals. The company’s electronic publishing division includes a hotel and airline reservation system.