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Times Mirror to Offer New Securities: Times Mirror Co. said it will issue securities that will hedge a portion of its 2.3% stake in Netscape Communications Corp., the maker of Internet software whose stock has been highly volatile. Times Mirror Vice President and Treasurer Steve J. Schoch said the investment hasn’t generated returns to shareholders because the company can’t sell its 1.78 million shares until April 1997. The new securities will allow investors to receive a regular cash dividend, which Netscape does not pay, in return for sacrificing some of the potential gains in the stock. Times Mirror will offer 1.3 million so-called premium-equity participating securities that mature on March 15, 2001. The issue price will equal the market price of one share of Netscape’s common stock on the date of the offering.