The Press: Sale (?) in Cincinnati

Disposing of a newspaper, even a profitable one, can sometimes be a problem. E.W. Scripps Co., owner of the 18-paper Scripps-Howard chain, had been directed by the Justice Department in 1964 to sell its majority stock interest in Cincinnati's money-making morning Enquirer (1970 profit: $2,100,000) and thus break up the Scripps-Howard monopoly in the city. Scripps also owns the evening Post & Times-Star. But finding an acceptable buyer for the Enquirer has given Scripps fits.

The paper's employees offered to buy the stock at $35 a share, and Scripps was willing. But four minority stockholders sued to prevent the sale, claiming the...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

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