Word: hearsts
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...fortunate artists who have lived long enough to luxuriate in their own revival. The acknowledged master of art deco in the 1920s and '30s, he created exuberantly fanciful costumes in his Paris studio for Anna Pavlova, Mrs. William Randolph Hearst and Josephine Baker. The sets he designed for the Folies-Bergère and the Ziegfeld Follies were backdrops for the extravagances of the age. In the postwar era, however, Erté's conceits were often dismissed as high camp or low kitsch. Undeterred, he kept on painting the Erté woman, who is the focus of most...
Australian Rupert Murdoch buys Hearst's Boston paper
...Boston Herald American was dying, it seemed, even before it was born. Founded in June 1972 as the merger of a played-out Hearst tabloid, the Record American, with a once elegant Brahmin broadsheet that had gone broke, the Herald Traveler, the fledgling paper lost more than $35 million in its first decade. Its circulation, 238,000 as of last week, was less than half that of the rival Boston Globe (circ. 510,000), which runs away with four times the advertising linage. Thus almost no one in Boston was surprised when the Hearst Corp. announced that the Herald American...
...when the only prospective buyer, flamboyant Australian Publisher Rupert Murdoch, declared the condition of his purchase: the paper's eleven unions would have to give up 180 of the Herald's 800 jobs to save $4 million a year. Nonetheless, the sale went through, five hours after Hearst suspended publication and sent employees home. The settlement, after 30 consecutive hours of bargaining, closed a week of allegations by Hearst executives that the Globe was trying to sabotage union negotiations. Crowed the Herald on its front page Saturday morning: YOU BET WE'RE ALIVE...
...salvation of the paper was reached substantially on Murdoch's terms. Besides layoffs they included a cash price of only $1 million, with up to $7 million of future profits going to the Hearst Corp. Murdoch also assumed pension liabilities. The takeover was in sharp contrast to Murdoch's last attempt at acquisition: unable to get big enough union concessions at the failing Buffalo Courier-Express, he withdrew his bid, and the paper died last September...