Word: mca
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Dates: during 1970-1979
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Times changed; New Times did not. Last week George A. Hirsch, the magazine's founder and publisher, announced that publication would be suspended at year's end.*Officials at MCA Inc., the Los Angeles-based entertainment conglomerate (Jaws, Airport 77) that bought New Times from Hirsch and other investors last year, said they were willing to keep the magazine going, but Hirsch found the outlook hopeless. Though circulation climbed from an initial 100,000 to today's 355,000 and advertising gained after a slow start, New Times never had enough of either to be consistently profitable...
Hirsch, who was publisher of New York magazine from 1967 to 1971, will remain at MCA to scout new magazine opportunities for the firm and publish Runner (circ. 85,000), a monthly he launched earlier this year for devotees of that very '70s pursuit. Editor Larsen, a former TIME bureau chief and writer, will stay on for a while as Runner's editor. The rest of New Times' mostly young 17-member editorial staff will probably have drifted to other jobs by the time the magazine's last issue hits newsstands Dec. 11. That issue...
...album is a lame entry. During the first six days of August, one 1,500-seat theater in New York City sold less than 15% of the house at the average showing. I Wanna Hold Your Hand, another Beatles-inspired movie, got a clammy reception three months ago. Notes MCA President Sid Sheinberg ruefully: "I liked it. There was only one thing wrong-nobody wanted to see it." Other big, new movies with this embarrassing ailment include Convoy, International Velvet, Big Wednesday and The Swarm...
...inability to get around Senate recommendations in his efforts to appoint blacks and women to federal judgeships, and his difficulties with American Jews over his Middle East policies--Hamilton Jordan flew to Los Angeles to help push tickets for a $1000-a-plate dinner headed by Lew Wasserman of MCA two weeks ago, and it's seen as a big test of his approval...
...MCA, which last year earned a $90 million profit on revenues of $803 million, seems determined to make what it sees as a good investment. MCA is loaded with extra cash-$153 million in all-and needs a place to put it. Coke-L.A. shareholders have until the end of this week to decide whether to take MCA's offer. If they do, the acquisition will move the movie business toward controlling not only what audiences see but what they buy in the lobby. Twentieth Century-Fox has taken over Coca-Cola Bottling Co. Midwest in St. Paul...