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To: $Mogul who wrote (90280)	8/23/1999 12:10:00 PM
From: Bouf	Respond to of 119973

Nice news out on ALTM Monday August 23, 10:03 am Eastern Time Times Mirror to buy Alternate Marketing stake GRAND RAPIDS, Mich., Aug 23 (Reuters) - Marketing services company Alternate Marketing Networks Inc. (Nasdaq:ALTM - news) said Monday that news and information company Times Mirror Co. (NYSE:TMC - news) agreed to buy about 16 percent of Alternate Marketing's common stock. Alternate Marketing said Times Mirror, the publisher of the Los Angeles Times and several other newspapers, would buy shares issued by the company and also acquire shares from a private investor. Terms were not disclosed for the two transactions, which were expected to close next month. With its 16 percent stake, Times Mirror would gain representation on Alternate Marketing's board of directors, which would be expanded to five directors from four. ``We see immediate opportunities with Times Mirror's portfolio of high-profile newspapers such as the Los Angeles Times and Newsday,' Phillip Miller, chairman and chief executive officer, said in a statement. ``In addition, this investment ensures that we can continue our internal growth and continue to invest in our proprietary systems,' he said. Shares of Alternate Marketing rose 31/64 in early Nasdaq trading to 2-11/16. Times Mirror shares rose 5/16 to 59-7/16 on the New York Stock Exchange.