Advertisement

P. M. BRIEFING : J2 to Acquire National Lampoon

Share via
<i> From Times Wire Services</i>

National Lampoon Inc., the magazine publisher and movie producer, has agreed to be acquired by J2 Communications in a stock swap valued at approximately $4.67 million, the companies announced today.

J2, a home video producer and distributor, will exchange two-thirds of a share of its common stock plus a warrant expected to be worth $1 for each share of National Lampoon stock, the companies said in a statement.

Actor Tim Matheson and his business partner, Daniel Grodnik, who acquired a controlling stake in National Lampoon last year, will continue to run the company as a division of J2.

Advertisement

James P. Jimirro, J2’s president and chief executive, said the acquisition will give National Lampoon, which has been losing money, capital for its publishing and movie projects.

Advertisement