Word: hearstly
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...last decade in a challenge before the Federal Communications Commission trying to save the corporation's lucrative subsidiary, WHDH-TV, that he let the Herald Traveler slip into organizational disarray. Now, having lost the battle before the FCC, he has been forced to sell the Traveler to the Hearst Corporation, owner of the Boston Record American; a decade's inattention had left the paper wholly dependent on the television revenue of WHDH. Today, Boston has one less newspaper, one new television station (WCVB now broadcasts over channel 5, previously WHDH), and a lot of unemployed journalists...
...with WCVB. Some are still looking for work. Few of the Traveler's Old Guard wanted to be associated with the Record. So it is not surprising that the Record made much ado about the syndicated features it was picking up from the Herald Traveler. Probably the best thing Hearst retained was The New York Times News Service, but even that was not the bidding of The Times. Times's managing editor Abe Rosenthal wanted to give the news service to The Globe, but the publisher, Punch Sulzberger, had too many scruples to break the Herald's contract...
...demise of the 125-year-old Herald leaves the Globe morning and afternoon papers in head-to-head competition with expanded Hearst entries. The chain bought the name and relatively modern plant of the Herald and this week transformed its tabloid Record American into standard-size papers: the morning Herald Traveler and Record American and, for variety, the afternoon Record American and Herald Traveler. "Strangely enough," says Globe Editor Thomas Winship, "it looks like we may now have more competition, not less...
Three months later WCVB-TV still struggled to implement the changes it promised, while, true to its word, the Herald-Traveler announced that it would cease publication on June 18 after 125 years of publication, and sell its plant and assets to the Hearst Corporation for $8.5 million. The paper had staked its survival on a successful court battle to retain the license for channel five, worth an estimated $50 million. The profits of WHDH had more than made up for the huge operating deficits the paper had sustained in recent years. Without this financial transfusion, the paper seemed doomed...
...that the loss of Channel Five had cut off "the source of funds essential to continue newspaper operation." He explained that "efforts to find a buyer for our newspaper willing to undertake the burden of three-newspaper competition in the Boston market" had failed, and the sale to the Hearst interests, which publishes the Boston Record-American, a daily tabloid, had been financially expedient...