Sportsman Marshall Field III, having sunk some $1,950,000 into the 5¢ New York tabloid PM, and having called in outside experts to see what was the matter, last week was preparing to back another paper. Result: a prospectus announcing a 32-page national weekly to be launched soon and called Parade. It is to be distributed (starting with an expected 150,000 copies) like The American Weekly or This Week, as a newspaper supplementor in cities where a newspaper customer cannot be found, to sell separately for 5¢ on the newsstands.
Just one year old now, PM has a circulation of around 75,000...
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