The Press: Printing Money

Unlike executives of other multimillion-dollar corporations, the president and secretary of the Kansas City Star Co. do not have offices of their own. Instead, they sit at desks in the newsroom, under the direct gaze of the staff. That is only fitting. Since 1926, when the estate of Founder William Rockhill Nelson was liquidated, the newspaper firm has been owned lock, stock and Linotype by its employees.

This week, however, the last of the Star Co.'s lunch-pail capitalists will sell out to Capital Cities Communications Inc., the Manhattan-based owner of four small newspapers, 13 broadcast stations and Women's Wear Daily. Employees of...

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