Word: antitrusters
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...power of the press is often exaggerated, but it was abundantly evident last week on Capitol Hill. Responding not to editorial thunder but to years of lobbying by publishers, the House passed a bill shielding the U.S. newspaper industry from antitrust laws. The vote was a lopsided 292 to 87. Since the Senate adopted a similar measure last January, 63 to 14, the legislation seems certain to become...
...combined operations of 44 dailies in 22 cities (including St. Louis, San Francisco and Pittsburgh), but clear the way for most future arrangements of the same kind. There is no longer any legal dispute over rival papers sharing printing plants and advertising staffs. But publishers argue that without special antitrust exemption, some papers will succumb to rising production and labor costs, thus reducing the variety of editorial voices. The "newspaper preservation bill" is so protective, however, that Justice Department officials have called it "a license to fix prices," promote monopoly and suppress potential competition...
...FREE ECONOMY: The public interest would be well served if the Government proceeded to reduce tariffs, eliminate import quotas, reduce farm price supports, discourage restrictive work practices, reform the minimum wage, and enforce the antitrust laws more strictly...
...Corp., the sixth largest steel producer in the U.S. Using borrowed money, he paid too much for the company. He bought control for $85 a share, and since then J & L stock has plummeted to $12.75. There was little that Ling could do to stop the slide. A federal antitrust suit barred him from exercising his command...
...Wilson Sporting Goods, which was disposed of in February. Discussions have also been going on with several possible purchasers of Braniff Airways and Okonite Co., two sizable pieces of LTV that Ling agreed to sell in return for the Justice Department's withdrawal of its J & L antitrust suit. Those sales could be held up, however, by Federal Judge Louis Rosenberg, who will begin hearings next week in Pittsburgh to satisfy himself that the settlement will be in the public interest...