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Disney's ABC Sells Nils Publishing Unit

June 26, 1997|(Bloomberg News)

Walt Disney Co.'s ABC Inc. sold its Nils Publishing Co. unit, with $25 million in annual revenue, to Dutch publisher Wolters Kluwer as Disney sheds businesses that don't mesh with its entertainment focus. Price and terms weren't disclosed. A Wolters Kluwer spokeswoman declined to comment, and a Disney spokesman couldn't immediately be reached. Nils, an insurance law publishing concern, will become part of Wolters Kluwer's CCH Inc. tax and business law publishing unit in Riverwoods, Ill. Its publications include the print product the National Insurance Law Service and the CD-ROM "INSource Healthcare." Wolters said the acquisition is part of its strategy of strengthening its legal publishing business worldwide. On Monday, Burbank-based Disney said it will sell most of its Chilton trade publishing unit to Anglo-Dutch publisher Reed Elsevier for $447 million in cash. Disney has been selling publishing assets it acquired in its $19-billion purchase of Capital Cities/ABC Inc. that don't jibe with its film, broadcasting and cable businesses.

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