Word: heralders
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...terms of quantity at least, Boston is the nation's best town for morning newspapers. Excluding the Christian Science Monitor, which is not truly a local paper, readers can choose among the sprightly Globe (circ. 240,163), the stodgy Herald Traveler (192,129) and the tabloid Record American (369,873). But they may not have long to treasure that choice, for the Herald Traveler is fighting for its life...
...much of its 125-year history, the Herald was the bible of Boston's Brahmins. Among the well-to-do, you weren't really married until the Herald took note, and you never advertised anywhere else to sell a house worth six figures. Its veteran news staff is still often the best in town on fast-breaking stories. But news is handled without much imagination, and the Herald lags far behind the Globe in investigative reporting, in spotting new styles and trends, in arguing topical issues...
...Although the paper lost $5,000,000 in 1971, the parent Herald Traveler Corp. could always post a healthy profit, at least until last year, thanks to some $6,000.000 in annual net income from its television station WHDH. (Declining TV revenue in 1971 caused a net loss for the company of $310,000.) The really damaging blow came in January, when the Federal Communications Commission took away the corporation's TV license in order to diversify local media ownership. The corporation had fought 24 years for clear title to the license in a complex, oft-contested case...
...newspaper property generates substantial cash losses that cannot be supported in its present form by our remaining resources." Large stockholders who live outside Boston and hold a controlling interest are understood to favor liquidation. Local shareholders want to keep the paper going. Through layoffs and early retirements, the Herald is reducing the staff by 150. "We are exploring many alternatives," says Clancy...
...Buchwald, 46, was telling it like it had been to the sesquicentennial brunch of New York's Jewish Child Care Association. His fantasy that he was really a Rothschild who had been kidnaped by gypsies didn't quite come true, but as a columnist for the Paris Herald Tribune, "I lived it up with the international set, sailed on Onassis' yacht, played roulette with King Farouk and danced until dawn with the Duchess of Windsor." And at the end of his speech, he did get that standing ovation...