Press: The Star Stays

Still two papers in town

For weeks, right up to New Year's Eve, the issue remained in doubt. Would the nation's capital remain a two-newspaper town? Or would the deficit-plagued Washington Star be forced to call it quits?

Time Inc., which had bought the Star last February from Texas Financier Joe L. Allbritton, found the paper's condition to be shakier than anticipated. The Star was $10 million in the red in 1978, and losses of $16 million were projected for 1979. Last October the Star's management announced that Time Inc. would commit $60 million to a five-year program aimed at making the paper...

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