The Press: A Question of Value

On the West Coast last week, three weekly newspapers * changed hands. But they were an exception to a trend. Elsewhere in the U.S., scores of would-be buyers were hunting dailies or weeklies for sale—and hunting in vain. In Florida alone, one broker reported he had 25 buying offers, not one to sell. In Michigan, ex-Senator Blair Moody, who had lined up capital for a daily (TIME, Aug. 17), had not been able to find one to buy. The reason: newspapers in general are making fat profits, anywhere from 6% to 15% after taxes. Few owners want to sell, and those...

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