A Letter From The Publisher: Nov. 9, 1970

BOARD Chairman Andrew Heiskell announced last week that Time Inc. and McGraw-Hill Inc. had reached an agreement in principle whereby McGraw-Hill will purchase 13 radio and television stations operated by Time-Life Broadcast. The sale, which is subject to the approval of the Federal Communications Commission and the directors of both corporations, calls for a price of $80.1 million. It includes AM and FM radio and VHF TV stations in Grand Rapids, Indianapolis, Denver and San Diego, in addition to a UHF TV station in Bakersfield, Calif. (It does not include any of Time Inc.'s community antenna television franchises and operating...

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