TELEMEDIA TO BUY HARROWSMITH, EQUINOX MAGAZINES

  (Telemedia Inc) said its (Telemedia
  Publishing Inc) subsidiary agreed to buy privately-owned
  Harrowsmith and Equinox magazines for an undisclosed amount of
  cash.
      Telemedia said the acquisition is expected to have a small
  positive impact on short-term earnings.
      Harrowsmith, an alternative life-style magazine, is
  Canada's seventh-largest paid circulation English-language
  magazine while Equinox is the country's eighth largest. Each
  has a circulation of about 160,000 copies.
       The magazine group had revenues of eight mln dlrs last
  year and employs 50 people, Telemedia said.             
      Telemedia said it will also acquire a 10 pct interest in
  the company which recently launched the U.S. edition of
  Harrowsmith.
      The magazine's U.S. editiion, begun last year, now has a
  paid circulation of 180,000, the company said.
      It said a final deal is expected in mid-April.
      Telemedia said the magazines' founder has agreed to
  continue to provide editorial and publishing direction for the
  magazines.
  

