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...demand for anchors spurted as local stations across the U.S. expanded their news coverage; Los Angeles' KNXT last month introduced a 2½-hour newscast, and a number of stations (Los Angeles' KNBC, Chicago's WBBM and New York's WNBC among them) mount three shows a night. Local news operations, once money-losing public service efforts, have become universally profitable; at many stations news is the most important source of income. Now anchors and their agents routinely play one station against another at contract-renewal time, and the stations pay up willingly...

Author: /time Magazine | Title: Press: Those Affluent Anchors | 7/17/1978 | See Source »

...find, and keep, an anchor with that certain something -looks, sex appeal, credibility-that viewers like. A single ratings point in a major market like New York, Los Angeles or Chicago is worth more than $500,000 in yearly station revenues. When executives at Chicago's CBS-owned WBBM this year figured they would lose three evening-news ratings points if Anchor Bill Kurtis jumped to NBC-owned WMAQ, they won him back by counteroffering $250,000 a year. They considered it a bargain. Says Joe Saltzman, a veteran TV newsman who teaches broadcasting at the University of Southern...

Author: /time Magazine | Title: Press: Those Affluent Anchors | 7/17/1978 | See Source »

...years of experience as reporters and still dash out of the studio like Dalmatians when a big story breaks. Washington's David Schoumacher put in two decades as a newspaper reporter and network correspondent before joining Washington's WJLA as anchor last year (at $120,000), and WBBM's Walter Jacobson ($140,000) is one of Chicago's most respected political reporters. Says New York's Larry Kane, a radio reporter at 15: "The press is abusive to say we're all mannequins. There are no major anchormen in the U.S. who are phonies...

Author: /time Magazine | Title: Press: Those Affluent Anchors | 7/17/1978 | See Source »

Madigan, 59, is a press critic. Unlike his print-bound counterparts in other cities, he chastises the profession via the rather quaint medium of radio-for 2½ minutes five days a week over WBBM, the CBS-owned station for which he doubles as political editor. In addition, Madigan is closely tied to the still clanking municipal machine of the late Mayor Richard Daley, a rare alliance for a newsman in these post-Watergate days of pol bashing. Indeed, while other reporters stood outside in the cold, Madigan was allowed to broadcast Daley's funeral live from inside...

Author: /time Magazine | Title: Press: Second City Scold | 12/19/1977 | See Source »

...evening American (it died in 1974 as Chicago Today) and rose to become political editor before working in Washington for Hearst and Newsweek. He was a regular panelist on CBS's Face the Nation for nearly five years, then returned to his home town. After becoming WBBM-TV news director, he switched to the network's AM radio outlet in 1968. Snide and thunderous on the air, Madigan at home in his lakefront high-rise is a man of quiet humor, Irish-pol anecdotes and a smile as wide as the Dan Ryan Expressway...

Author: /time Magazine | Title: Press: Second City Scold | 12/19/1977 | See Source »

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