Word: thackrey
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...months the presses of Manhattan's fallen Star (nee PM) had gathered dust. For four weeks, pudgy Theodore Olin Thackrey, ousted by his estranged wife Dolly from the New York Post Home News (TIME, April 18), had been an editor without a mouthpiece. Last week a way was found to employ both editor and presses. With money furnished by a generous backer, Ted Thackrey bought the Star's equipment, prepared to launch a new 10? morning tabloid in New York City next week. Its name: the Compass...
...Compass will start out on a modest 24-page scale, pointing its needle to what Thackrey calls "the non-Communist left." Working as publisher, editor and managing editor, Wallaceite Thackrey thinks he can make money on 65,000 circulation and whatever advertising he can get. His editorial staff of 25 will include Medical Writer Albert Deutsch and Washington Correspondent I. F. ("Izzy") Stone, both survivors of PM and the Star, whom Thackrey harbored at the Post. The Compass' sport editor will be Stanley Woodward, onetime head of the New York Herald Tribune sport staff, lately editor of the short...
...Woman's Causes. The angel who backed Ted Thackrey's new start in journalism is 82-year-old Mrs. Emmons Blaine, a strong-willed Chicago philanthropist who bought full-page ads in her Cousin Bertie McCormick's Tribune to plump for Roosevelt in '36, '40 and '44, when the Trib was denouncing him. Daughter of Reaper King Cyrus McCormick and heiress to his millions, "Aunt Anita" Elaine is the daughter-in-law of James G. ("Rum, Romanism and Rebellion") Elaine. She lives in a cavernous house on East Erie Street, is rarely seen...
...World. Ted Thackrey met Mrs. Elaine for the first time about three weeks ago, through a mutual friend who intended to put up half the money for the Compass. When the friend backed out, Mrs. Elaine coolly agreed to put up both halves. For around $2,000,000 she will get all the preferred stock; Thackrey will hold 51% of the common, and complete control...
...York City will sport another newspaper within two weeks. T. O. Thackrey, editor of the New York Post-Home News, has announced that he will take over the now defunct New York Star, formerly PM. Thackrey's new paper will be titled The Compass and will sell for ten cents...