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AG19810601
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AG19810601
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Last modified
3/28/2003 9:13:36 AM
Creation date
11/27/2017 12:15:37 PM
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Template:
Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
6/1/1981
Board
Board of Commissioners
Meeting Type
Regular
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.. The ~e~houe~ holdings <br /> <br /> T~eZgdaily new'tpaper~thataeet, heb,¢aet~{theNewhonse with U.S. ~culation o~ 6.1 milli~, ~e Sunda? ~uppl~ <br /> fortune have a tm~ ~ily dr~l~tioa of 3.2 million, a ment Parade, ~dio lad t~levlsion stati.~ lad ~ble <br /> addition, ~e fa~ly owns seven Condd Nast ma~a~nc~ iater~ta. Thepropetti~: <br /> <br /> Mobile R~st~r 48,052 <br /> <br /> ~ew le~-. ]c~yCityler~M[o~ ':-' ' 73,151 W~I-~, Bi~nn~ <br /> <br /> - .~ <br />mingtonMominR ~'~ ~dEteninRJour. Paul Chapm~. Says he: "it's got to thc are going to go ~n thc org~ <br />.~ last year, for example, becau~ pu~ point where it's h~d to ~e any justifies- ~d leave when th~ conclude it's Dry <br />lisher ~drew Fisher was ~esi~ing. Says lion to it." Io~ Morton, newspaper ~a- ~ hi~ and no hi.er. <br />Don~d:"Wearen't~tuptosupplyman- lyst ~r th~ 1o~ Muir & Co. o~ce in For now, ~c fa~ly is counti~ <br />a~tm=at." Ga~ctt Co~. ul6mat=ly Washin~on, D.C. ad~; 'qt's p~acticMty enou~ Newho~ coming along to <br />boule &e pape~ ~r 5~ million and impossible ~r n~wspaper pfic~ to go ~de the top m~ag=meat. ~cy'vc <br />mov~ in an=w publisher from its Bi~- ~y hi~r without a buyer asking him- done their b~t to ~= &at future o~- <br />hamton. N.Y. papers. ~ whether h~'d cv~ make ~y money ship won'~ go outside: Long ago, thc <br />Ncwhou~ has not made a newspa~r out ot it." principal st~older~Si, Donald, <br />acquisition smct B~t~neady three It's ~si¢= to a~k big questions ~ it Norman ~d S.L's x~dow Mi~i~si~ <br />years ago. At thc same tlme. chains like is to answer them and the big question ~ agreement requi~g &at ff ~y of <br />~mes Minor, Gannett and Knife-Rid- their heirs ever decide to ~11, it m~t <br />d~ have ~¢n gobbling up newspapers ac ;~- -z<~ - _ ,_ _ ~. - ~_- -~i to th~ <br />30 and ~ tim~ eamin~. ~¢~ com- ~o~9~e~Sl~.n~ Soth~futufemayrcstonwhaIDonald <br /> <br />~m~ Mirror, for example, got more ~a~l ~n~ tn~ t~'~ as long~ family members are "work~g <br />than half im revenues and profi~ last ewe ~ ~ ~," ~aym in the business, involv~ in it, <br />year Iron outside its newspaper, while t~ ~, Ho~ ~ it," he says, &e Newhou~ way of ~n- <br />75% of Newhou~ is still the Newhou~ ~. B~ w~n aH t~ ~eet- ning a billion.dollar co~oradon vir~ll~- <br />newspapem, ~d ~ ua~a~ moments a~ '~ ~ ~ ~, without a co~orate sr~ wilt be viabl~ <br />Si Newho~is apt to call eve~thiagel~ t~ a~ o~ ~ ~ ~ ~ even Wen &e obvio~ d~g~s of a <br />"per/pheral." He even includ~ ia this dee~t~. ~fi c~e~ ~ecuHve. No~y exp~Si <br />d~cription the Condo Nast mag~ine don't &ink the~ve ever had ~ <br />ope~ation~ he ha~ ~m~ into a heah~ ~~ ~-;'-- ' ZL -] ~d Donald ev~ to be at <br /> <br />cate~ri~. Didn't his fa&ct say, long that alm~t sh~t5 it~[~ a~at the New- mem,q says Uncle Non--hut <br />ago: "~e oalw thing to do wi& mono? ho6~ o~radon is &is: Will the heir, MI decisions have to be <br />tamed ia newspapers lis] leave it in in stubbornly MIIowing the founder's ~hey're ohea apt to be less decisive. <br />newspap~m"/ wi~ policies, stay t~ long wi~ tho~ Only the clo~t c~pera6on ~ <br />But fu~ acquislti~in newspape~ polici~l come that~ the Newhoa~ are <br />wHlbe mo~ed~knlt, t~.~ca~o[~e Sourer, the ex-B~th cxc~tive, t~t ~ ~ar ~ece are no Citizen <br />feverish acquisition ~ce, &e marke~ thinks the Newhou~ will have pro~ arouad. Or~No~Newhou~p~ie <br />price of a g~ ~ily newspaper of 30,~ [ems attracting and keeping smart ex- "You ~ow, I don't ~i~ any of <br />to40,~circulation in a mono~ly mar- ¢cutiv~ from outside the/amily. 5~a- any can~ ,~d wh~ you're <br />kef has doub}~ in thc last live years, er ot later he 5ay~, britt young exccu- ranis, you't~ f~ ~ · lot of other <br />acco~ng to Arista ncw~paper broker dyes will ask them~tves where &ey problems." ~ <br /> <br /> <br />
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