Times Mirror’s buy-back was oversubscribed.

The company, which publishes the Los Angeles Times and several other newspapers, said about 22.9 million shares of its common stock were tendered by midnight Monday, the deadline for its offer to buy 7.5 million of its own shares at $60 each. The company said it has decided to buy only 7.5 million shares, on a prorated basis. That means Times Mirror will buy one-third of the shares from each of those offering to sell and return the other two-thirds. On the New York Stock Exchange on Tuesday, Times Mirror stock fell $2.50 to close at $55.625 a share.