Word: scrippses
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Disposing of a newspaper, even a profitable one, can sometimes be a problem. E.W. Scripps Co., owner of the 18-paper Scripps-Howard chain, had been directed by the Justice Department in 1964 to sell its majority stock interest in Cincinnati's money-making morning Enquirer (1970 profit: $2...
The paper's employees offered to buy the stock at $35 a share, and Scripps was willing. But four minority stockholders sued to prevent the sale, claiming the price was too low. Then Scripps announced last month an impending sale to the Blue Chip Stamps Co. of California. That...
But nobody is signing over any stock just yet. The Justice Department has the right to object to any buyer, and because American Financial is in the banking business, the Federal Reserve Board must give its approval. The Justice Department's original deadline for divestiture of the Enquirer was...
The re-examination of the traditional family and the desire to try other forms have also produced some bizarre experiments. In La Jolla, Calif., Michael, an oceanographer, and his artist wife, Karen, both 27, had been married for four years when Michael met Janis, who was studying at the Scripps...
For at least three years, Cowles has been sinking deeper into financial troubles. Losses in 1968 were $888,000; in 1969, they were $1,883,000. Last year Cowles closed down its Long Island daily Suffolk Sun (a reportedly $5,000,000-per-year loser). Earlier this year, it sold...