Word: news
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Dates: during 1930-1939
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...legendary figure, have wondered what would happen to the institution when William Randolph Hearst was no more. Of late they have ceased to wonder, have realized that the institution has already started breaking up before their eyes. Since Mr. Hearst abdicated two years ago, six Hearst newspapers, one news service and one magazine have been sold or scrapped; Hearst radio stations cut from ten to three; rare Hearst treasures have been knocked down for $708,846; the value of all Hearst properties, estimated (too generously) at $200.000,000 in 1935, reduced to a fraction of that figure.-Just...
...inevitable dissolution was inherent in his career; now that that career is ending, its turning point stands out. In 1922 Hearst was at his zenith as a publisher. He owned 20 newspapers in 13 of the largest U. S. cities, with Universal Service and INS to flash them worldwide news, King Features Syndicate to dish out comics and boilerplate philosophy, the scandalsheet American Weekly to boost Sunday circulation into the multimillions. He had a string of magazines, a newsreel, a motion-picture company. He had the world's highest paid stable of writers and editors. And he made more...
...himself junked papers in Rochester and Omaha, leased the Washington Times to Cissie Patterson (who bought both Times and Herald outright this year), sold Hearst's half-interest in the Pittsburgh Post-Gazette, combined the staffs of morning and evening papers in Milwaukee, folded Universal Service into International News, tabbed the Boston American. This plugged a drainage of nearly $5,000,000 a year. Executives White and Hearst Jr. began liquidating the Hearst art treasures. Executive Connolly got rid of seven radio stations for $1,215,000. Executive Huberth told Hearst real-estate bondholders they could reduce interest charges...
These papers are worries: the N. Y. Journal-American, Boston American,^ Baltimore News-Post (Sunday American), Pittsburgh Sun-Telegraph...
These papers are headaches: Milwaukee News-Sentinel, Atlanta Georgian (Sunday American), Chicago American (which lost $500,000 last year) and Herald & Examiner. Badgered by the Guild strike (which, however, appeared near settlement last week), the Herex has lost $500,000 in advertising since December. For years the Herex has been able to pay interest on its bonds only because it collects $750,000 a year rent from the American. But its Sunday edition sells 1,000,000 American Weeklies. Joe Connolly is working desperately to save Chicago for Hearst, and his success or failure may determine whether Hearst remains...