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That the Sun fetched such a hefty price just after its main competitor folded was coincidental. Times Mirror Chairman Robert Erburu noted that his acquisition of the Abell properties, which include the morning Sun (circ. 205,000) and the Evening Sun (circ. 152,000), as well as two television stations and two magazines, had been in the works since April. Said he: "We saw a good opportunity and went...
...also the beginning of the end for Fleet Street as the 200-year-old center of the British newspaper industry. Robert Maxwell, the mercurial publisher of the leftish Daily Mirror (circ. 3 million), plans to follow Murdoch to the east London docklands area by 1987. He has already persuaded the unions to allow him to lay off one-third of his company's 6,000 workers in exchange for severance benefits. The conservative Daily Telegraph (1.2 million), now controlled by Canadian Tycoon Conrad Black, hopes to finish its headquarters in east London by the fall. The liberal, thoughtful Guardian...
...Fleet Street's chronic money woes. Terminal may be a better adjective: on gross revenues of nearly $2 billion last year, Britain's 17 major papers made about $34 million in profits, nearly all of it accounted for by Murdoch's racy Sun, the country's largest daily (circ. 4.1 million...
...boycott took hold, Manila was abuzz with speculation that some of the seven banks singled out by Aquino had lost large deposits and that the government-controlled Bulletin Today (circ. 250,000) had suffered a plunge in readership. But there was little evidence that the tactics had done more than make investors nervous. The day after the Manila rally, the price of shares in the San Miguel Corp., a blue-chip conglomerate controlled by Marcos Ally Eduardo Cojuango, plummeted 15%. Shunning San Miguel's products, which range from beer to ice cream, may prove difficult for most Filipinos...
...smiles in the newsroom. Seven months after hiring a new editor for the paper, Hearst fired him two weeks ago and named himself to the post. Image, the four-month-old Sunday magazine, is so far ill focused. And the Examiner, perpetual afternoon also- ran to the morning Chronicle (circ. 554,000, vs. 150,000) has failed to gain new readers...