TELEMEDIA TO BUY HARROWSMITH, EQUINOX MAGAZINES (Telemedia Inc) said its (Telemedia Publishing Inc) subsidiary agreed to buy privately-owned Harrowsmith and Equinox magazines for an undisclosed amount of cash. Telemedia said the acquisition is expected to have a small positive impact on short-term earnings. Harrowsmith, an alternative life-style magazine, is Canada's seventh-largest paid circulation English-language magazine while Equinox is the country's eighth largest. Each has a circulation of about 160,000 copies. The magazine group had revenues of eight mln dlrs last year and employs 50 people, Telemedia said. Telemedia said it will also acquire a 10 pct interest in the company which recently launched the U.S. edition of Harrowsmith. The magazine's U.S. editiion, begun last year, now has a paid circulation of 180,000, the company said. It said a final deal is expected in mid-April. Telemedia said the magazines' founder has agreed to continue to provide editorial and publishing direction for the magazines.