Times Mirror was not the only company trying to tie in magazines with the environment in 1991.

Times Mirror sold shares to the public beginning in 1964.

He joined Times Mirror in 1961 as general counsel and secretary.

That was the highest figure any news event has got in the two years since Times Mirror began asking the question.

Times Mirror will also take $1.4 billion in cash from the cable operations before the deal is done.

Times Mirror said the investment would "strengthen the relationship between the two companies, which may identify other opportunities to work together in the future."

Times Mirror, on the other hand, retains only a limited upside potential.

Times Mirror will extend the rest as notes with a face value of $70 million.

Times Mirror confirmed the talks in a statement that also said the company was not certain an agreement would be reached.

Times Mirror reported losses for the fourth quarter and year because of several charges against earnings.