Word: muir
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Dates: during 1960-1969
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...city dweller who lives under a pall of smog, smokes incessantly, worries about fallout and sprays his flowers with pesticides, possible causes of cancer seem to close in on all sides. "It pleases many to think of cancer as a necessary concomitant of civilization," says Scottish Physician C. S, Muir, "a penalty to be paid for the abandonment of the rustic simplicity of a bygone age, a toll to be exacted for the convenience of the automobile and the pleasures of the cigarette." Even doctors dream of some remote part of Africa or Asia, "where, removed from the madding appurtenances...
...death of Philanthropist Vincent Astor, when Astor's 179,700 shares, amounting to a 59% controlling interest in Newsweek, passed to the trust. Eager to sell Newsweek, the foundation promptly, though privately, began hunting a buyer. Among the handful of serious bidders was Newsweek Board Chairman Malcolm Muir, 75, who hoped to enlarge his family's 13% toe hold on the magazine with the Astor shares. But Graham's offer of $50 a share (which was about 24 times the magazine's earnings per share) was $5 better than Muir's best, and Muir lost...
...felt even before the ink on his earnest check had dried. In as new editor went Managing Editor Osborn Elliott. 36. a 1944 Harvard graduate and former TIME writer, to replace John Denson, who resigned last month to become editor of the New York Herald Tribune. Aging Board Chairman Muir was politely shifted to a resounding but inactive new post as chairman of the executive committee of the board. Malcolm Muir Jr., 45. once heir apparent to his father's desk, was invited to move to Washington in an as yet unidentified capacity on the Post...
...Wrong Approach. Unmentioned in Muir's statement was the fact that the Foundation had already done some dickering with other potential purchasers. Last summer, after the Foundation's Newsweek holdings-assessed for tax purposes at $4,857,052-were made public, expanding Newspaper Publisher Samuel Newhouse (who has paid cash for most of his 14 dailies) offered to buy the Astor shares for considerably more than market value. Newhouse's offer was rejected, reportedly on the insistence of Vincent Astor's widow, Brooke Russell Marshall Astor, a member of both the Newsweek and Foundation boards...
...Right Man. Muir and his management group face an uphill struggle to raise the $8,000,000 that the Foundation is asking for its stock-especially since they have chosen to get along without Sam Newhouse, who offered to stake them to all or any part of the money. In the meantime, if someone with the right qualifications-an outsized wallet and a desire to keep on operating Newsweek in the Astor tradition-should come along, the Astor Foundation would presumably be all ears...