Selling non-core assets

Impact of juvenile retail publishing sale



• Business assets adjusted to fair market value, less cost to sell
• Impairment recognized on carrying value of assets
  • 4Q: Approximately $54 million, net of tax, or 28 cents per diluted share
• Business treated as discontinued operations
  • Additional operating loss of 2 cents in 2003
• Sale expected to close on January 30

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