Word: murdochs
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Dates: during 1970-1979
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Wilson and two other members had lost their positions on the board in a move to make room for Rupert Murdoch, the Australian publisher...
...Friday, Clay S. Felker, New York Magazine Company president, resigned, after Murdoch consolidated his financial control of the company last week...
...board of directors then made Murdoch the chief executive officer, and reinstated Wilson and the two others...
...Editor Felker, 51. Last week two of the biggest potentates in publishing battled for the feat of Clay. The combatants: Katharine Graham, 59, board chairman of the Washington Post Co., which in addition to the D.C. daily owns Newsweek, the Trenton Times and four TV stations; and Rupert Murdoch, 45, buccaneering Australian proprietor of ten major newspapers and eleven magazines-including, as of last week, New York City's afternoon daily the Post, where he is editor in chief. Up for grabs: control of the umbrella New York Magazine...
...weeks ago, sensing that some major stockholders had tired of his profligate ways and wanted out, Felker confided to Murdoch his fear that he might lose editorial control of the company. Next thing Felker knew, Murdoch was negotiating with the biggest (23.8%) stockholder, Manhattan Socialite Carter Burden. In near desperation, Felker turned for help to Kay Graham, an old, close friend. By week's end, Murdoch seemed to have the upper hand after the bidding had gone to $7.50 a share for stock that had been traded over-the-counter for $2 a month earlier, raising the paper value...