Word: papering
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Dates: during 1980-1989
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...attempt to fight its way into the black. The Sunday edition is the big gun of millionaire real estate , magnate Peter Kalikow, who bought the ailing Post from press lord Rupert Murdoch last year. Kalikow, 46, admits he did not know much about publishing when he took over the paper. "When you fly on an airplane," he says in his thick Queens accent, "you don't know how the plane works. You fly on it because it's going to take you someplace." So far, however, the Post has been speeding Kalikow toward a destination all too familiar...
...addition to the $37 million purchase price he paid Murdoch, who reportedly lost $150 million in the twelve years he owned the paper, Kalikow has already sunk $17 million into the Post. The Chicago-based Tribune Co., owner of the Daily News, has spent more than $100 million reviving the paper since it nearly folded in 1982, while the Los Angeles-based Times-Mirror Co. has invested about the same amount in its attempt to create a New York paper by expanding Newsday from its profitable base on Long Island...
...Sunday editions account for 40% to 50% of the advertising revenue of many dailies. "It's a Hobson's choice," says Gary Hoenig, a veteran New York newspaperman who recently left Newsday to edit a new industry trade magazine called NewsInc. "The Post can't succeed without a Sunday paper, but it is very hard to win over Sunday readers...
Whether or not that optimistic forecast comes true will ultimately depend on the quality of the paper, which is the province of editor Jane Amsterdam. A respected veteran of the glossy Manhattan Inc., Amsterdam has moved slowly since arriving at the Post last May. While she has curtailed most of the Murdoch-era excesses, revived the paper's credibility and boosted staff morale, the Post still retains much of its traditional gamy flavor. DEVIL- LOVING TEXAS TEEN NABBED IN MOM'S SLAYING was the headline over one story last week...
...likes of the notorious bank-robbing Younger brothers, who each served more than 20 years here after a badly planned bank job in Northfield, Minn. Coleman, the eldest, became prison librarian and printer's devil at the newspaper. In his second year Cole was named Mirror editor, and the paper's motto became -- and remains -- "It's never too late to mend...