Word: zuckerman
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...crisp graphics. In 1981 he brought his lively talents to the paper's staid daily sister, the Times, which he edited for a year before being ousted in a dispute with Rupert Murdoch. Now Evans' English eye will be tested at a very American publication: Mortimer Zuckerman, who last month paid $176.3 million for U.S. News and World Report (circ. 2,050,000), has announced that he is giving Evans, 56, the nebulous job of "editorial director...
...principal architect of this success is the magazine's publisher, James Glassman, 37. Last week Peretz's friend Mortimer Zuckerman lured Glassman away, with Peretz's permission, to become a top executive at U.S. News & World Report (circ. 2.1 million). Zuckerman takes over as owner of the newsweekly next month. Editor Hertzberg has also served notice that he is interested in eventually exploring other careers. But Peretz asserts that the magazine will readily attract able executives. Says Peretz: "The one sure thing at this unpredictable magazine is that we will go on being unpredictable...
...Mortimer Zuckerman, the real estate magnate whose Park Avenue offices in New York City overlook the site of a 1 million-sq.-ft. tower that he is building, joked on the telephone to friends last week that he can now afford lunch only at "some place with a takeout counter." The reason: Zuckerman, 47, has agreed to pay $182.5 million in cash to acquire the parent company of U.S. News & World Report (circ. 2.1 million), a purchase that will vault him into the major leagues of American journalism. He will be the sole owner of the magazine, a conservative...
...Zuckerman, a witty, urbane socialite who raised funds for Senator Gary Hart's presidential campaign, might seem an unlikely buyer for U.S. News, a magazine that prides itself on a down-home flavor virtually devoid of literary flourishes and serves a predominantly Midwest and Sunbelt audience. Founded as a daily national newspaper in 1926 by David Lawrence, a syndicated columnist, it evolved into its present format after World War II. In contrast to TIME (U.S. circ. 4.6 million) and Newsweek (U.S. circ. 3 million), U.S. News downplays reportage of a week's events in favor of analysis...
...brought into focus what had been just a complaint from a few retirees: that U.S. News was shortchanging departing staffers by sharply undervaluing the company's assets. These include a high-technology typesetting company and a pending hotel-and-office complex (started as a joint venture with Zuckerman) on U.S. News's 3.5-acre headquarters site in Washington. The directors, all employees themselves, felt obliged to seek bids and heard from more than 40 companies, including Hearst, Gannett and other media giants. Despite the magazine's modest and uneven record of profits and a 13.4% decline...