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From Times Staff and Wire Reports

Magazine Publisher to Invest in Cable TV: Meredith Corp., which publishes Ladies Home Journal and Better Homes & Gardens, announced that it will invest $100 million in a partnership to buy cable-television companies. Jack Rehm, president and chief executive, said cable television “fits in comfortably” with the diversified media company that’s best known for its magazines. Rehm said the investment is Meredith’s largest ever. The yet-to-be-named partnership will be managed by New Heritage Associates, a group of executives of the former Heritage Communications Inc.


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