The
New York Times has sold off its golf magazine publishing division to Advance Publications for an undisclosed sum. It was reported that Condé Nast and AOL Time Warner were also in discussion to take control of the titles.
The portfolio, which includes Golf World, Golf Digest and the GolfDigest.com website, is the last of the New York Times’ magazine businesses.
The paper has also reported Q4 2000 earnings above forecasts despite a downturn in advertising revenue growth. Earnings per share were up 11.5% year on year, although the dotcom fall-out affected ad revenues, which grew just 2.5%.
