NEW YORK — Primedia said Wednesday that it has agreed to sell Chicago magazine for $35 million in cash to an affiliate of the Chicago Tribune Co.

With the sale of Chicago, Primedia will have sold approximately $220 million of its targeted $250 million in noncore assets. Primedia will use the proceeds to reduce outstanding debt and strengthen its balance sheet. Among the properties Primedia has already sold are Bacon’s and the Modern Bride Group.

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