OTHER NEWS - Dec. 6, 1991

Times Mirror Plans Write-Down: Times Mirror Co. said it expects to accept a $65-million write-down on the value of long-term notes it received when it sold the Denver Post to an affiliate of Houston-based MediaNews Group in 1987. Times Mirror, a diversified media company that owns the Los Angles Times, said it expects to take the one-time charge--a total of 33 cents per share--against pretax earnings in the fourth quarter. However, the actual amount of the write-down won’t be known until Times Mirror and MediaNews complete negotiations over how that debt should be restructured. Times Mirror agreed to sell the Denver Post to MediaNews for about $25 million in cash and $70 million in 10-year notes. The first loan repayment was due in 1993. However, the companies acknowledged the impact of the recession and the continuing economic malaise and agreed to renegotiate, a company spokeswoman said. Coupled with other special charges, the write-down could result in a fourth-quarter loss.