Word: newsprint
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Dates: during 1930-1939
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...which once own stock in the Gannett Newspapers." He asserts that the Federal Trade Commission reported "the name of the firm is International Paper & Power Co." FTC said nothing of the kind. Its final report names International Paper Co. as the concern which, in return for a longterm newsprint contract, helped me to finance the purchase of three newspapers...
...recalled that he used to be a newspaperman himself. He was a cub reporter on the Washington Herald in his law-school days, long before Hearst bought & sold the Herald. He has had, however, another and longer connection with the business: the new head of the largest U. S. newsprint consumer has been since 1933 a director of International Paper Co., largest paper company in the world...
After liquidating much that was unprofitable, Judge Shearn tried to squeeze more profit out of paying properties, to turn a profit with those that were doubtful. But the troubles that beset all publishers in 1938 nearly ruined Hearst. Newsprint went from $42.50 to $50 a ton, upping the Hearstpapers' bill by $5,000,000. Advertising revenue dropped 25%, a staggering $10,000,000 a year. Circulation fell off. In June 1938 Hearst Consolidated passed its dividend. In July the first Hearst subregency fell...
...Shearn's main task for a good many years will be to pay bills, reduce bonded indebtedness and get Hearst's real estate out of hock. Whether he can do that depends on readers, advertisers and creditors. Readers are fickle and advertisers scary, but the banks and newsprint manufacturers who are Hearst's largest creditors cannot afford to let Hearst fall apart...
Commission to investigate publishers' complaints of newsprint price-fixing. Last week FTC submitted its findings to the Department of Justice without recommendations and without revealing details. It is now up to Trust Buster Thurman Arnold to determine what action, if any, should be taken against the industry, a question complicated by the fact that much of the industry is located in Canada...