MEDIA

Times Mirror Prices Netscape-Related Shares at Discount: Times Mirror Co. said it priced 1.3 million so-called premium-equity participation securities tied to Netscape Communications Corp. stock at $39.25, a 9.5% discount on Netscape’s closing price. The Los Angeles-based parent of the Los Angeles Times had planned to sell the securities at a price equal to Netscape’s share price, but changed plans after Netscape’s shares declined last week. The securities are meant to lock in a profit on Times Mirror’s 11-month-old investment in Netscape. Separately, Times Mirror’s National Journal Inc. unit has agreed to purchase American Political Network for an undisclosed amount. Alexandria, Va.-based American Political Network publishes four daily electronic news summaries for political professionals.