The Press: Hitting the Iceberg

Last week the harassed Curtis Publishing Co. capped a year of bad news with the bleakest news of all: the company lost a staggering $7,624,000 in the fourth quarter of 1964 as compared with a $1,400,000 profit for the same period in 1963. Total 1964 loss: $13,947,000, second largest yearly deficit in Curtis' history, surpassed only by 1962's $18,917,000. The company added that it would postpone April interest payments on its $9,970,000 outstanding debentures and was considering a recapitalization of its preferred stock.

Curtis announced at the same time that Matthew J. Culligan, who had been ousted as president and chief...

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