The Press: How Much Independence?

When word of the imminent sale of Long Island's Newsday first leaked to the press (TIME, March 23), the main opposition came from six minority stockholders (49%), all heirs of the late Alicia Patterson Guggenheim. Emotionally committed to Alicia Patterson's strong sense of local identity and control, they were not eager to submit to absentee landlordship. Last week the majority stockholder (51%), Captain Harry Guggenheim, announced that he had indeed sold, for a reported $33 million. "I believe," said the Captain, that the sale "will assure the independence of Newsday." Said Joseph Albright, one of the minority stockholders: "I'll be very...