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McAlary's own paper was in even worse financial shape than the News. Press tycoon Rupert Murdoch, who bought the Post in 1976, lost about $150 million in a dozen years before caving in. The latest would-be savior was Peter Kalikow, like Zuckerman a real estate lord, who ran down the circulation (from 550,000 to about 438,000), threw his real estate holdings into bankruptcy and exacted a 20% pay cut from his staff before finally putting the paper up for sale. Answering the call was Hoffenberg, whose millions come from "financial services," in this case buying other...

Author: /time Magazine | Title: News to Post: Drop Dead | 2/15/1993 | See Source »

Hate him or love him (and some do, since the man has real charm), there is no escaping Rupert Murdoch these days in popular entertainment and journalism. At 61, the chairman of News Corp., who is now a naturalized American, stands out as one of the world's pre-eminent media barons. Through a bewildering mesh of subsidiaries, he controls an $8.5 billion communications empire that includes newspapers and magazines in Britain, the U.S. and Australia, the Fox . TV network and movie studio, plus a powerful satellite that beams video programming throughout the British Isles. Like Johnny Rocco, the mobster...

Author: /time Magazine | Title: The Banality Of Power | 1/18/1993 | See Source »

...second Rupert byte, if Shawcross can be believed, is that this restless entrepreneur, who controls so much of what the world reads and watches, seems to be utterly banal of mind. Apart from the family he dotes on, Murdoch apparently has no interests other than minding his properties and seeking new ones...

Author: /time Magazine | Title: The Banality Of Power | 1/18/1993 | See Source »

Death is in the air from the first moments of Damage. A middle-age Member of Parliament (Jeremy Irons), comfortable in marriage to a rich, charming woman (Miranda Richardson) meets the enigmatic girlfriend (Juliette Binoche) of his son (Rupert Graves) and falls in love -- really falls, headfirst, from the precipice of his propriety. People don't survive this impact. They either die or are scarred forever by guilt and loss...

Author: /time Magazine | Title: Stiff Upper Libido | 1/11/1993 | See Source »

Home alone on Christmas? Not Hollywood's swank set: Arnold and Cher, Rupert Murdoch and Marvin Davis and other star lights atop the Hollywood power tree. They're usually skiing or schmoozing in Aspen, the Rocky Mountain town that is the glitterati's Gstaad. This Christmas, though, the slopes may be a bit less congested. And some of the entertainment elite who winter at Colorado resorts may notice the soot of a guilty conscience tarnishing their white Bogner ski togs...

Author: /time Magazine | Title: Colorado's Deep Freeze | 12/14/1992 | See Source »

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