Word: kander
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Disappointed a second time, Sam Newhouse telephoned Newspaper Broker Allen Kander in Washington, D.C. He was down South. Where could he buy a newspaper? Try New Orleans, Kander suggested. Newhouse did. And just two weeks after that long-distance phone call, U.S. journalism's smallest publisher (5 ft. 3 in., 136 Ibs.) closed the biggest deal in U.S. journalistic history. For $42 million?more than three times what the Louisiana Territory cost the U.S. in 1803?Newhouse bought both of New Orleans' papers: the morning Times-Picayune (circ. 195,151 daily, 307,-983 Sunday) and its evening companion, the States...
...Family Affair (by John Kander, James and William Goldman) begins where other musicals leave off; that is, its first lines are "Will you marry me?" and "Yes." In the real world a healing numbness sets in after these words are spoken, but Affair's attempt to convey love's anesthesia at first brings out only the authors' thinnest whimsies. The affianced couple (Larry Kert and Rita Gardner) are a chilly pair, and the opening songs seem less clever than the stage furniture, which wheels magically around during scene changes...
...sold by its five trustees, heirs of the late Publisher Victor Henry Hanson, who, over 36 years, built the News (daily circ. 180,215, Sunday circ. 219,804) into one of the most prosperous U.S. dailies. The deal was started more than a year ago by Newspaper Broker Allen Kander (whose commission was around $500,000) and signed one afternoon in a Birmingham hotel room. Though self-made Publisher Newhouse prides himself on using his own money to buy news papers, he admitted reluctantly that the whopping price had sent him to Manhattan's Chemical Corn Exchange Bank...
...worth of the physical plant plus two or three times the net profit after taxes; the plant plus $10 to $20 for each subscriber; gross receipts plus 20% for good will. But even when they apply any or all of the formulas, brokers like Washington's Allan Kander admit that after they get the result, they "dive for a crystal ball." And the formulas cannot account for the huge increase in values represented by some of the sales that have taken place. In California's San Bernardino County, the publisher of a semiweekly, which he bought...