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...radio stations), agreed last week to buy the Evening News Association, the parent firm of the Detroit News, which has been controlled by the Scripps family for 112 years. Gannett offered $1,583 a share for a total of $717 million, beating out Washington Redskins Owner Jack Kent Cooke and Hollywood Producer Norman Lear. Besides the money-losing News (circ. 667,000), Gannett will acquire lucrative television stations in Washington, Tucson, Oklahoma City, Austin and Mobile. Since the Federal Communications Commission restricts a company from holding media properties in the same market, Gannett must decide whether to sell several possessions...
...crown jewel of the company, bidders seem more enticed by ENA's highly profitable television stations in Washington, Tucson, Oklahoma City, Austin and Mobile. (ENA also owns nine newspapers in California and New Jersey, and radio stations in Detroit.) Rumored potential suitors include CBS, Hearst, Washington Redskins Owner Jack Kent Cooke, the Tribune Co. and Wesray Corp. (headed by former Treasury Secretary William Simon). Another major contender is considered to be the Gannett Co., the country's largest newspaper group, which reportedly bought a block of 20,000 shares last week at $1,300. The ENA board has announced that...
Nobody knew where or when Wiley would surface, and many Hinckley folk now sense he is beyond their guesswork. Said Mary Placke, who saw him daily when he picked up Kent regulars and a newspaper at the Open Pantry Food Mart: "I thought we knew Mel. Guess we didn't." Detective Bigam feels sure of one thing: "He knew I'd be working on the case. He's got to be gloating...
Americans like cartoons of transformation, fantasies of sudden empowerment. Popeye eats spinach. Clark Kent enters the phone booth. The 97-lb. weakling sends away for the Charles Atlas course. Shazam! The creature that a moment ago looked mortal and ordinary and vulnerable becomes a master of the universe. He can fly. Conquer evil. Get revenge. He is born again, this time as a kind...
...house prices would come down by perhaps 5% to 10%. That would please buyers and help to contain the inflation rate but hurt owners with large savings tied up in homes they are trying to sell. Even at lower prices, fewer buyers may be tempted and fewer homes built. Kent Colton, executive vice president of the National Association of Home Builders, figures that housing starts might drop 300,000 units below last year's level of 1.8 million, a matter of concern to the economy because housing construction spurs sales of wood, glass, furniture, appliances and many other goods. Scott...