Word: parton
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Dates: during 1940-1949
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...morning last week, 1,800 newsboys threw copies of the Los Angeles Independent on 500,000 front lawns for the last time. After a year of publishing his twice-a-week giveaway, Editor & Publisher James Parton announced that his experiment in decentralized city journalism (TIME, Jan. 24) was folding...
With a big list of backers,* Parton had bought eight community sheets and shopping guides, then merged them into one citywide newspaper with sub-editions for each major suburb. Eventually he had hoped to convert the Independent into a daily. But advertising had come in too slowly, and Publisher Parton had stretched his financial shoestring too far and too fast. In cash and credit, he had spent $600,000. Said Parton: "Our war chest was too small...
Last week Parton thought his experiment had worked well enough to expand further. For less than $500,000, he bought the biggest U.S. giveaway-Los Angeles' twice-a-week Down Town Shopping News† (circ. 500,000). The Shopping News was owned by 18 Los Angeles department stores (The Broadway, Bullock's, May Co., Barker Bros.). Parton promised to jump circulation to 600,000 and lower ad rates; as part of the deal, the stores signed long-time advertising contracts with Parton. His expected revenue this year: more than...
Editor & Publisher Parton planned to merge the Shopping News with his seven other papers, call the new paper the Los Angeles Independent. He also set out to hire 50 newsmen and 150 ad salesmen. They will put out 10 to 15 semiweekly "sub-editions," in effect, community giveaways, for the major communities of Los Angeles. All the papers will have some features (fashions, movies, music, cartoons, etc.) in common. Los Angeles newsmen guessed that 36-year-old Parton's eventual aim, if the Independent succeeded, would be a citywide daily...
...part of the Parton deal, the Down Town Shopping News Corp. sold its stock in Pacific Press. (Pacific Press, largest West Coast printing plant, prints the Shopping News, and the West Coast copies of TIME and LIFE.) TIME Inc. bought the preferred stock; the Clement Co., Buffalo printers, bought the common stock...