The Press: Lease on Life

Under sentence of death, Manhattan's PM had won three reprieves from Owner Marshall Field. Last week, he finally found a buyer. He sold a "majority interest" in his tabloid to San Francisco Lawyer Bartley C. Crum and Joseph Barnes, foreign editor of the New York Herald Tribune. They were mum on how much they paid—and who was backing them. But they said they had "adequate" cash to continue PM, now losing $15,000 a week. (Minority Stockholder Field will still foot part of the loss.)

As Publisher Crum and Editor Barnes moved into PM's modest home...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!