New York Times Sells Golf Digest

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Advance Publications Inc. is the new owner of the popular Golf Digest magazine. The golf monthly with a circulation of 1.6 million was sold by The New York Times along with Golf World, Golf Digest Woman and Golf World Business.
 
No specifics of the sale price were disclosed but industry sources said it could be upwards of $400 million.
 
The sale also includes GolfDigest.com and several golf schools.
 
Russell T. Lewis, president of The New York Times Co., said the would, 'allow us to focus our resources on our larger businesses.'
 
New owner Advance Publications publishes well-known magazines such as Vogue, Glamour and Vanity Fair.
 
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