Henry Louis "Skip" Gates, Jr. yesterday denied suggestions in The New York Times that he and business partners sold the educational website Africana.com to Time-Warner because it was in financial distress.

"He had that story in his head," said Gates of Times reporter David D. Kirkpatrick. "We weren't looking for a sale--it just sort of dropped in our laps."

Gates, who is DuBois Professor of Humanities, and Africana.com co-founder K. Anthony Appiah, professor of Afro-American studies and philosophy announced the sale of the website on Sept. 7.

Gates said the company sold for a "very fair price," but did not disclose details of the deal.

The site, which focuses on the history and culture of African peoples throughout the world, will remain commercial-free and Gates, Appiah and their staff will retain editorial control for a period of five years.

Appiah said that Time Warner, the media giant that owns CNN, Warner Brothers and Time Magazine, is a perfect partner for the site because of the wealth of intellectual property it owns in all areas of Africana.

"Time Warner owns...the best sources for providing information about daily news in Africa and incredible archives of very serious photographs," Appiah said. "And...having access to sounds and images [of popular culture] will be a tremendous position."

After Time Warner's merger with America Online, Africana.com's content will be incorporated into the AOL service, allowing for it to reach an even broader audience, a possibility that excites Gates and his colleagues.