TIME WARNER BEEFS UP GOLF TITLE DIVISION WITH ACQUISITION

          Time Warner's Time Inc. publishing division "has agreed
     to acquire" Times Mirror Magazines for $475M, according to
     people sources cited by Rose & Deogun of the WALL STREET
     JOURNAL.  While the $475M price is "much higher than
     initially anticipated," the acquisition will "beef up"
     Time's Sports Illustrated unit, which "largely missed the
     boom in extreme and niche sports."  Time Warner will now add
     such titles as Golf, TransWorld Snowboarding and Ride BMX, a
     publication about stunt biking.  Time "topped a joint bid"
     from N.Y. Times Co. and American Media, which publishes the
     National Enquirer (WALL STREET JOURNAL, 10/20).