Word: murdoch
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Dates: during 1990-1999
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...same period in 1989. But while nobody doubts that the Times will continue, optimism about the tabloids is hard to find. The Post, a mix of catty gossip columns, conservative editorials and chest-thumping sports reporting, hasn't earned a penny in nearly two decades. Press lord Rupert Murdoch lost $150 million during the 12 years he owned the paper. He was threatening to close it down in 1988, when Kalikow, wealthy and eager to join the glamorous world of publishing, bought it from him for $37 million. Vowing to preserve the city's last conservative editorial voice, Kalikow pumped...
...shake-out is at hand. Magazines are going under or changing hands at a dizzying rate. Owen Lipstein's Psychology Today suspended publishing in February; struggling monthlies such as CMP's Long Island Monthly and Time Inc. Magazines' Southpoint went out of business; Rupert Murdoch's debt-ridden News Corp. sold the gossipy Star to the National Enquirer and delayed plans to launch its own weekly newsmagazine...
...biggest threat appears to be to highly leveraged foreign investors. Diamandis Communications, a subsidiary of French-owned Hachette, is looking to sell Woman's Day to offset Hachette's estimated $400 million U.S. debt. Murdoch's News Corp., reportedly $6.5 billion in debt, will soon begin experimenting with the venerable but faltering TV Guide, adjusting the magazine's iconic size and format in an effort to become more accessible and compete with proliferating local cable guides. Leslie Hinton, president of Murdoch Magazines, rejects speculation that foreign investors want out of the U.S. altogether. "Things go up and down," he says...
...years the dueling scandal sheets brought blood-and-guts drama to U.S. supermarket checkout counters. But the publishing pugilism came to an end last week when the owner of the National Enquirer, New York City-based G.P. Group, agreed to buy the Star from media mogul Rupert Murdoch for $400 million...
Launched by Murdoch in 1974, the Star was one of his first U.S. successes. The Star will operate separately from its new sister publication. So on the surface at least the tussling tabs will still vie for the dirt on wayward celebrities and errant aliens...