Word: astors
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...other Crimson losers in the devastating defeat were Steve Astor (147), who lost in a 9-1 decision; Bob Kolodney, who lost 9 to 0 to Cornell's Allen Rose in the 157 class; and Paul Schnitz, who was taken down at 3:00 of his match by Alex Steinbergh...
...Steve Astor at 147, Bob Kolodney at 157, Paul Schnitz at 177, and Duke Hurley in the heavyweight class round out the Crimson starters...
...Foundation had already done some dickering with other potential purchasers. Last summer, after the Foundation's Newsweek holdings-assessed for tax purposes at $4,857,052-were made public, expanding Newspaper Publisher Samuel Newhouse (who has paid cash for most of his 14 dailies) offered to buy the Astor shares for considerably more than market value. Newhouse's offer was rejected, reportedly on the insistence of Vincent Astor's widow, Brooke Russell Marshall Astor, a member of both the Newsweek and Foundation boards. The Meredith Publishing Co. of Des Moines (Better Homes & Gardens) also made an approach...
...directors are aware, the Astor Foundation's business is charity, not magazine publishing, and Newsweek is not an investment that can be left to manage itself. Vincent Astor left Newsweek in far better shape than he found it. When he got control in 1937, the magazine had reached a circulation of 250,000, but had cost its original investors $2,250,000 in four years and was dying of malnutrition; today it has a U.S. circulation of more than 1,400,000; and last year, on an estimated total of $30 million, it netted something under...
...stock-especially since they have chosen to get along without Sam Newhouse, who offered to stake them to all or any part of the money. In the meantime, if someone with the right qualifications-an outsized wallet and a desire to keep on operating Newsweek in the Astor tradition-should come along, the Astor Foundation would presumably be all ears...