Word: interest
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Dates: during 1970-1979
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...administration is to rule only by the consent of those it is supposed to serve. Instead, Bok's logic--clearly evinced by his refusal to respond to the stock divestiture issue--gives the administration and Corporation a free hand to rule in what they decide is in the general interest, even if many concerned members of the University disagree. Bok answers...
Since satellite programming began, the industry has expanded with a rush. As recently as 1974-75, Teleprompter was losing money, and some other cable operators were also in financial trouble; they had borrowed heavily to expand after the FCC loosened regulations but got squeezed by high interest rates. Now the industry is bringing in $1.4 billion in revenue a year and posting profits high enough to catch the eye of multinational giants. General Electric has bought into a cable operator and Getty Oil into a programming company. RCA plans this December to send up another Satcom satellite that will carry...
Anthony Hoffman, cable-TV analyst for Bache, Halsey Stuart Shields Inc., the brokerage house, foresees shows produced by special-interest magazines. "There will be a Popular Mechanics of the Air and a Skiing of the Air," he predicts, and they will reach huge audiences of cultists who rarely read but who watch...
...million last year, has had a yo-yo history. Founded in 1967 by Cable Visionary Irving Kahn, it expanded furiously by acquisition. Then, in 1971, Kahn went to prison, convicted of bribing officials in Johnstown, Pa., in order to get a franchise. Overexpansion and overborrowing from banks at high interest caught up with the company; in 1973 it lost $31 million. A new management team headed by Karp, a former treasurer of Columbia Pictures, has brought the company solidly back into the black. Last year it earned $14.2 million, up 58% from...
...Australian Publisher Rupert Murdoch. Never can be a very short time in the publishing business. This week Felker will lose another magazine, Esquire (circ. 650,000), which he bought in 1977 with money from British Publisher Vere Harmsworth's Associated Newspapers. Associated is selling most of its interest in Esquire to 13-30 Corp. of Knoxville, Tenn., a small but fast-growing publisher of specialized magazines (New Marriage, Nutshell, Graduate) aimed at readers aged 13 to 30. The firm is half-owned by the Bonnier Group, Sweden's largest publisher. "The backers [Associated] have decided to shift their...