Word: ownerships
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Dates: during 1970-1979
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...Greek youth's peregrinations between 1964 and 1972, when Getty Museum Curator Jiri Frel viewed him in Munich, are uncertain. By then, ownership was claimed by Artemis, a Luxembourg-based art consortium. Getty, the late oil billionaire, had begun a collection of Greek and Roman antiquities at his U.S. home in Malibu, Calif., and expressed interest in the statue. But even he balked at the asking price-about $5 million. After his death in 1976, officials at his museum continued the quest for the statue, finally arriving at a deal this year...
...Chairman Frank T. Cary said that the withdrawal decision was "a great disappointment," but insisted that the firm had no alternative. India's ruling Janata Party, in vigorously enforcing the nation's 1973 Foreign Exchange Regulation Act, is pressing hard for at least partial Indian ownership of foreign companies operating in the country. A total of 57 foreign firms have decided to close down their Indian plants rather than meet demands for some degree of Indian ownership. One company under pressure: Coca-Cola, which has all but stopped making Coke in India. The company had been ready...
...dozen giant publishers by the end of the century. Arizona Congressman Mo Udall, whose home-town paper in Tucson was sold to a chain last year, wants the Government to give local owners special tax breaks and begin a three-year study of the effects of concentrated ownership. This seems a very bad idea to Allen Neuharth, the head of the Gannett chain, which bought the Tucson paper and owns more dailies (73 in 28 states) than anyone else. Udall's proposal has not got far yet. Perhaps concentrated control over newspapers is not the dramatically fearsome thing...
What is missing as local ownership disappears, says Congressman Udall, is publishers who were "an independent spirit in the community, who had the power and the disposition to blow the whistle on the people in that community." A crusty editor willing to risk all for what he believes best for his town is an honored American institution. Such paragons still exist among local papers, agrees John C. Quinn, Gannett editorial director. But Quinn knows others where "the editorial position is discovered after the publisher comes back from lunch," presumably after consulting the local fat cats...
...mean-spirited eccentricity than any chain paper. Yet ideally a good independently owned paper with deep roots in its community is best for that community. That is Udall's argument. A lot of editors are properly leery about political intrusion in their business, but the trend toward concentrated ownership is worrisome enough that Congressman Udall's ideas at least deserve a hearing...