Word: gannett
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Dates: during 1970-1979
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...sale of the Star Co. is only the latest in a recent epidemic of high-priced newspaper transactions. Australian Rupert Murdoch late last year paid more than $30 million for the New York Post. Gannett Co. is acquiring the 13-paper Speidel chain for $173 million. In perhaps the largest newspaper sale ever, S.I. Newhouse last year paid more than $300 million for Booth Newspapers' eight dailies and the Sunday supplement Parade. In all, 72 dailies changed hands last year, up from 49 in 1975. Says Otis Chandler, vice chairman of the Times Mirror Co. and an unsuccessful bidder...
Nevertheless, she still devours books on business subjects and seeks the counsel of such friends as Los Angeles Times Publisher Otis Chandler and Clay Felker, editor of New York magazine. Says Felker: "The Gannett chain may make more money, but they don't have her concern for quality." Graham has maintained the quality by preserving generous editorial budgets, but she wants to raise the company's profit margin from last year...
Died. Elisabeth May Craig, 86, Washington correspondent for the Guy Gannett newspaper chain of Maine from 1926 to 1965; after a long illness; in Silver Spring, Md. Craig marched in a suffragette parade at Woodrow Wilson's inauguration, and later vigorously protested her exclusion from all-male press gatherings in Washington. She earned colleagues' respect for her "dodge-proof questions and barbed repartee at the press conferences of five Presidents. When F.D.R. once lamely admitted, "That wasn't much of an answer, was it?" Craig shot back, "No." Her hair in a bun under one of dozens...
Each year visiting journalists observe council procedures and return home both awed and puzzled. "It ought not to work," says Vincent Jones, former executive editor and vice president of the Gannett newspapers, "but somehow it does...
Indefinite Expansion. The editorial benefits of common ownership can be considerable to individual papers. The Cocoa, Fla., Today (48,101) covers space shots with imagination and expertise for the whole chain, via the Gannett News Service. The Statesman in Boise has been filing with local insight for all papers on the recent Idaho mine disaster. The News Service circulates such group-wide features as an entertainment column from the San Bernardino Sun and a music column from the Times-Union. Small papers benefit from staff coverage by bigger ones and in turn serve as testing grounds for technical improvements that...