Last spring, when Publisher Samuel I. Newhouse went shopping for an anniversary gift for his wife Mitzi (TIME, April 6), he got more than he was looking for. In paying $5,000,000 for majority control of Conde Nast Publications Inc. (Vogue, House & Garden, Glamour and Bride's Magazine), Newhouse caught Conde Nast in the midst of negotiations to buy the U.S. publishing house, of Street & Smith. Last week Sam Newhouse, no man to duck opportunity, closed the inherited deal.
For a reported $4,000,000 plus an option for Street & Smith's owners on some 10% of Conde Nast's stock, Sam Newhouse assumed proprietorship...
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