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September 15, 1993|From Times Staff and Wire Reports

Disney Press Buys Michael Milken's Story: The junk bond king's autobiography will be ghost-written by William Novak and published by Disney's Hyperion Press, Hyperion Publisher Robert Miller said. He referred to Milken as a "visionary" of the financial world and said he hopes the book will be "one of the most compelling autobiographies in many years," exposing "the white-hot center of a revolution" that took place during Milken's controversial heyday at Drexel Burnham Lambert. Milken, 47, is performing three years of court-ordered community service. He pleaded guilty to six felony counts in connection with the federal prosecution of Ivan Boesky and served 22 months in a prison camp. He refused requests for interviews about the book, but issued a statement saying: "My intent is that the readers feel as if they were sitting at my desk. . . . (I) hope that my frank discussion will address some of the pitfalls I encountered as a result of living in a period when perception became reality." Proceeds from the book are to be donated to charity.

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