xt7mkk94bf0h https://exploreuk.uky.edu/dips/xt7mkk94bf0h/data/mets.xml Kentucky Kentucky Press Association Kentucky Press Service University of Kentucky. School of Journalism 1962 Call Number: PN4700.K37 Issues not published 1935 Aug - 1937 Oct, 1937 Jul - 1937 Aug, 1939 Oct - Dec, 1940 Jan - Mar, 1951 Aug - 1956 Sep. Includes Supplementary Material:  2005/2006, Kentucky High School Journalism Association contest 2004-2005, Advertising excellence in Kentucky newspapers 2003-2005, Excellence in Kentucky newspapers newsletters  English Lexington, KY.: School of Journalism, University of Kentucky Contact the Special Collections Research Center for information regarding rights and use of this collection. The Kentucky Press Press -- Kentucky -- Periodicals The Kentucky Press, July 1962 Vol.28 No.10 text The Kentucky Press, July 1962 Vol.28 No.10 1962 2019 true xt7mkk94bf0h section xt7mkk94bf0h J [ft J ’. ;: / , J .1 . J J _ . , _. J .. . J . . " ,1 J 7;, . J. _ )7,ij _ ._ _'_: . .-.J J J J 7;. J J, J Tiff W Jag-'61.“??? i J J :Jhi‘whbm”a“: JH‘“ J
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J”  N‘ffs, Bowling G attendanceit'thbe Congl‘atuquelgsgnd pub' In Oh'tak; Up the Fresh HEE'W'k (Ix/ch%laintan
- ‘ ; ViCtO Ca _ 1e“ em men Pl‘ai ese mee ' c 01’ thei- I ‘5 aI‘Ch . en 5 prom» . r‘ ainesz
: 1' Efrryrfiklgfifémagn’ Eili‘rgtitr‘gthNew-fi Liberty pl'ofSeesss- for their efforttnilgS' They are C111; dlsg had this to 51:11:55‘1g6, Pres. Ken tlon of NEWSI;
,: ; orida R X: Ssistant ' (triage, 1011, for _ n Upliffi . 0118mm . . . ; neWSPa .
It ‘ “Gaglspns Assistuifcretary'Manage fOre Others hOIdmg it in . 11g thell‘ advert' . e1 ChOICe is infl news pel 0W1
. ll 1 "Wersity of K TTEaSurer r ing it b . ’ and for thej~ . lespeCt be_ Of 15mg utilizing h' uend-3d by . Paper tau
1 i District E entuCky’ Lexingmn Th uSmeSS-WiSe l drwe in Pllfih persuaSion Th lghly developefi emes are l'efle
i . Xecuf. ere are d ' ‘ ' not k1] I e COHSUn . pers a .
‘ ‘ Chalmu IVe Com ' "t K e ItOrS wh O‘V Wheth 1‘3rt3’plcafla ‘ 5'
: 30 m) George . mItfee ‘ efltuck _ o haVe minin er (11.u . . I . (H0 I
1 : LylgrfrsceoturEtEi"°;1hth)'Joglrgt116‘} Commonwe lh twenty yeail's Pigss ASSOCi‘dtion I235:)1tthflttended efficazgm I:tandfll‘ds ofgsfllipamtxom; Hal?” “ mUCh
3* Stone A U eral’d ’ illiam at , th' . . - ut We ‘ el‘in . ' . e < e Y, qualir' II
, I . , 1es )Edd - T. D - (It It 1 - WOnd -- g 111 m USUall d ‘ Wh .
V Basil C senge‘r—Ara Yv111e. Sec aVIS: S thls - 61 1f the . . uch he y 065 n at d d
‘ . flu ‘ “S, C ’ 9nd, L 11211 . $1011 , r ‘ - Yleah Paysf . _ 0t know 1 L
I ~ 1 3311:1536sigma???gfiTwT-JeorgflzC‘tyf T1353 gojé Who Is l‘eSPonEibIQOEkmg i“ their 13:6 on? Prepared (£110 Commmel‘ Creditwt 1“ the 34 Ye
, , dfo d- .’ 4 an C B r a,“ Ti , nation} 01- 111’ - Va He h 111‘ I.” ’ ‘ paper 1
| ’ Leban: r ’ Sixth G ' ell: Primbl mes.- l'e . - ‘1 advel‘t' . my of th t an anoth ‘5 Inore Hum negotiqt
, : C . n; Sevent}I ’ Berge Trotte 6 Demo- Len/e month 15mg Check OSe mice f er; Wheth . learned c t
t 1 lflrhsle. Ninth , Warren R F‘ r, Enterprise Pres 1y. And t] S that the 0 a prod e1 the PW 11101.6 }
‘ ’ - . . . . . th'
1 . (ant, Ashla d-’ James T. N _ISherI Mem 2 5 SelVlCe ‘h lose large K y Deeds. 0. “Ct W111 111 f “n by 1 ~
News M' n > TGIIth M .orrls, Jr 1 my: eVer C eCks th entuck ‘ ’ 1 Whether I] II aCt ma W , 15mg;
‘ C , ’lddlesb _ _ , aurmG K. '2 “depen- y month I . at 'dl'e SO y 15 real] I . . t e 1211‘ I . 01th Of I
‘ll 1 E3133;ds“gf 101311351 Spéite'ff‘LargeHeéwyc’; Daily be“ elected £1136 “if direct result erlcome y d bdrgmnI ge econom’ lmPOSsib1; fub}
.. : c sI 3 anv , ’ - .V ' 'mt . 0m ' OC’
‘ tOn- S Templln H Ort’ Stdte- t an Wlth 0111' d . e ASSOC. - em- 11] the ‘
A Ti"; rt‘lte-at-Lgr ’ Wald-L ‘1 'Large - . edlcat d 1am)“ wl * w< a: mOId f
; es-1‘ ,- , g6, ‘ eaderI L . ’ 11111 ‘ e mam . 10 Work Sen; - * O
M dent, WnlIJIune, COIbin-Jqlmnfs Igee Craé’émg' Omng Up nationql . Igel, M1-- Pol‘tmq 14 lte FmaflCe Com . Newspaper
a; I ‘ Oster Adam; Omedmte past POIC}, Ln- State’s ‘ ‘ICCOHntsI Inn, 8 P1‘0p05a1 t mlttee approve‘ pl-eml.11m .
: ti ‘ Kentu k ’ ltzzenI Berea. rest. DiVided W motto is “Unit 1 deduCt billb . 0 permit a manufach buyers prlce’
31 G c y PI"3'55 S ' ce- - e F3117, Th Cc We Sh d Cogt O‘n'd and 1 . - than se]
3‘ eorge M. VVi150n P eerCe, In C. Italnly apply to at Same i deq hcn I t s fmm his pri .mgazme advr' qulre a good
' ’1‘ Landontf'fiinridgé szxcgflnil SOCmtiOn' For if the Kelltucky 1;“: 01m ax Payments Proce 1111 CHICUlafing' must Start outn
‘ ‘1.» ’1 S, First Vic — ews H . get in eVel‘y SS 5_ an amen} ’ p053 W I pav
t . . e-P~ . ) ardmsb there I new a . . (ment . ‘5 approl , more .
3 it VVllhum T. qug‘lCLean Coifrfzfiefit urg accolnplish ’lnd Stand Unitepl P61 \NOuld 111g for the e to B111 H. R 66821 banker Whthan
’1 V'. ‘ 115: SGCOnd VicgJ_preu.)S’ CalhOUn But t1 SO much more C We Collld duty. Xemption 0f f0wlin [let mellt w' 0 me
‘1 ‘ Pmtor R' Portm y0n Calmty H 851(1th 1‘ leSe Ineetin I A - g th'lt , 111 prot
E ‘ Ff”? 1 Ashley 221m, SBCretaryqewmld: Eddyville ‘Ile not all b1 . gs_0n1y tWiCe I 13111 introduc d . 1' ‘ pl’iCeI b
it orxda R. Cilriisosnmsigm SeC1‘etaT1-Zasurer Slon. For 6 18111658 and Serio ‘1 year_ by Rep. Herlo e( 111 the House! lShed neWs ht
. > SSiStant Tl l'ece xample at us dich _ Inter 11g Fla ) V What pap‘
1; reasurer ntly, all 1 3 CUmbe-. S nal Reve ~ would amt . Seems
1‘ Chair BOard Of Direct dOWn' th - lad a ChanCe t ”and Falls eXClusion f hue COde With respect faded to to
I, don.;\r}fi’l‘".1"larfin Dyche S 0'5 mg {)0 tfale was dancing Ohlet their hair» Sales pl. 0 IIOCal advertising cosl' profit make
‘V ’. ‘.1nCe K, , ent' ’ a 1n - . , o~ f . ‘lces . > '
|I 1Smr?’ Niles 0, DP-Ifie-nrx Daily fizz—E0110: Lon- few 'dCtiV't'g, SWlmmlng> golf ISeback l'ld- eXClse tax 01 the purp05e 0f COIL' It is 111-
, ‘1 | pnngs; R0 0, 1 mgham ws, Midd . lles, 01. . , to n 1 . es. Mea I x v0 I (Id for
Fay, Shelb, ““dner, Caum'é Pmé’ress, Dawles' Wlth friendS Just plain 011 ame a Ocal adVerts" Sme onld add . m laWYe‘
y OffiCio. J News, Sllelb;;i§§kn5an; R0631: fOI‘table reheat 50mg Shady SI: trelaxation magazine 01111-1g definitiOn the “'0! over-ShadO“; t0
‘ 1 ; ‘ z . 0 . ’ ‘ . ‘ .
fficers ex. FaHS« I at dellghtful 01 Com_ 0f real 1‘ .lg ”(Implayed on the: pap 61 earn' DC
« n A Cllmberland p Op61tyI g00d\ViII Ings
, 1 mother thing on import ' Real
. ’ e absohltel , H * ,3 a: * S am of
_I Y Cant keep _ 6 Who doze . econdary f cm
111 pieces f0 5 Whlle he drives “i $600 000 aCtO]
7; revel" ' the b711y daily I
They El TS had
naIyZed {-

 I.“ “" ' .... .... ......w. ..i., —~-—-. 23,—“ .> ' 5;

‘ I s I I at; ,-:
boIIIII JULY 1962 I I I I ‘I E
yomI PAGE ONE II I I :3,

'I II I I 5
It to” . I II II I :1, -.
Quality 0 Newspape H I E bI' h | I II I

r 6 ps sta IS ’r V I . I I
.I . Ira.» '
attenII ll K d S a ue I I I I) ‘
I' By A an an er - - . . . ‘- .I" .-
e mera equipment Inventory; vrsrted the town- - . _ I I 1;...
I Kander Associates, Washington, D. C, drove by the property and made an oifei' thzzfillt (109521“ the dallY~ II II I i _‘
I When your President invited me here to- WhiCh was accepted. if weftfiegggl tiiift foimlll‘? is fthat Q“ paper I III I It, Q
I . . . A eac '- - I I.
l day, I looked at my calendar, and decided Before IIegOtIatlonS start these days, most The theory is of course 11:11:20 fillinlfmmi' I III I I .
P nothing could be more appealing than Ken- buyers mull over these questions: a tangible measure of goéd 551110111; 11 anon.“ II I 1’. r
tricky in June. Particularly, Cumberland HOW faSt IS the area growing? the paper’s distribution area Q ere again, I II Q tQQF'I
’ Eduu Falls—packed with newspaper people. I ar- What old and new industries are located or spread—is '1 factor I have :zgcentlgtgd :3 .
.- . , . - 'P ‘ ‘ - < n a a I
the or, rived here yesterday, and have en]oyed ev- the‘e' newspaper change hands at a price which I I ’
Prote: ery minute of my stay. .15 the paper over—shadowed by some- figured $70 for each Circulation 't O I I 2
If the! As a matter of fact, your committee sent thmg nearby that is larger? variation is this formula holds thatum I fie II I
6 Foot“ me a room reservation card from June 7th Does this nearby publication threaten the the physical value of the la t d3"? ta e I I f:
ntedtoi to June 10th. I guess they couldn’t under- ptOPettY I want? to $25 for each proved Idir 01:11:; a d.$15 I I I I 3 -
I stand a guest just passing through Cumber- What problems will be involved in new reach a price. n unit to II I I I . _I'E3- .
land Falls- I wish I could linger lon . ownership? W . . I I I I [I I
ecomn , , f gei. _ 6 recently sold a five-d. ' I I I I, .
n his lemg In WaShthgtOH as 1 (10, it’s refresh- Getting down to newspaper values, YOU Sunday paper in a town of 151255] efm-ng and I I I I II I '
15 III ing IO get OUI to the grass r00t5$ Bluegrass can take a pencil and figure on the formulas 000. Circulation was 6 700 sd th OI' $350” Q II I II II it;
plinsI roots are even more attractive. In Ken— that have been used over the years, whether around $52 per Ch‘CUI'ition’umt $221110: Evils I II I I II
I ' ' . . . ‘ - s a III I I 3.1.! .
lounciII tUCkYI YOU hflVe a group of dailies and you want to sell or buy. There are Situations was owned and equipment was good I e I III III II '7; I
visersII weeklies that are outstanding products. It where real estate or equipment can throw Cidently, on the gross formula th Ill'n- I III I I II
't f 1'5 indeed an honor to be with you; renew everything out of balance. Many a buyer priceQwas about 116 per cent df -e se mg I III I I II 5m '
$15,“: 01d acquaintances and meet new friends. is confronted with a broken-down press, or A third formula is centered ogriotseir ' II II I I II Q‘I I ’
' . I ‘ a ' , . . ‘ c n11 I . I; I ‘.I»:~
‘ Props Mr. Carries asked me to Speak on Valua- inadequate P1655, 50 m 1113 mental calcula- before taxes and after depreciation The his I Q II I Q I Q I I I III Q
’ ' . - n ' .' ‘ ' ' I I' I I ' I “199.351 I
.65. Ker I10“ 0t NhWSPaper Ploperties. Wherever “onse'he adds the pllce of a new press to ures have been creeping up until it’s now I II II I I ‘ ;
newspape1 owners gather—wherever there is the P1106 he has t0 pay. seven to nine times those earnings Here the I III I I I I I I rim .3
ced Ir)" hettVSPaIIer talk—prices of publishing pr0p- Mr. Portmann informs me that the ratio QUCSUOH 0f publisher’s salaries comes up I III I I I t f
=velopeI er 1es are reflected in such hallway \VhiS- of your Association membership is about and you run into tax angles that have to be: III I I II :I
typicaIII peisHas: . five and one—half to one in favor of the worked Ottt before arriving at an agreed III I II
arationI' 1 WOW much did Bob pay for the Jour- weekly press, and that is about the ratio of worth Of the Property. II II I I I II I I Q
I 13, ~ . . . I I . I ~‘.4:','I1
, ' week] es t . . , I I, 5 I-I gr. "
’ qIIIIIII‘I “What did Joe get for the Times?” I will1 tr 0t darheStln the COlIilncttg today_ So . A fomth fOIInula revolves around earn- I I II' I I I I I I Q ”LI I
)t I‘II‘II“ In th 34 - Q . y- 0 pom out suc 1 erences as lugs after taxes- It is difficult to find a seller I 'II III II ‘ I Q'
edit-III. e Years that I have been a news- may exrst in the method of exaluating week- who will trade at less than 12 times net II III III I II I I‘ “:3 »

I paper negotiator and consultant I have lies and dailies as I go along earnings It’s in - 1‘k I' II IIII . III II _;~;I_-.II.

'e nuIII: (, . ‘ _ K , . i - . . ore i ely to be around 15 “3% I II'.’ I "I II t ”‘35.
I the pa“ IthIquJd more by standing On the Sidelines Every sale of a newspaper property rep- times these days, and you negotiate on these ‘IQ III II I III . I s
. r ‘ . . . .. . I .IIII
fact ma worIth yfusrng a. SlIde rule to determine the resents speCial condicions. No two are ex- hgures step—by-step, until a price is mutu- I‘IIIII III I III I If“ .
econOIIIII im 05 (1)121 pUblishing property. It is simply actly alike, The extent and nature of real ally agreeable. In such cases, real estate and IIIIIIIQIIIII I III I I - II
. mph: eldto cast the value of a newspaper estate holdings, of course, are important. equipment included must be exceptional. II III III I III I 35‘ i
\T mo of a formula. The cash position and the net quick in the In the weekly field, this formula is not so III II I I III I] Q Q'
11 e'WSpaper properties today command balance sheet also must be examined care- applicable, Since the publisher’s 511.11.), is I 'III II I I III I III 52:
. ‘ -' H - I- .IIIII “I?
appI'OI'I‘ Euethlml prices. There are many more fully. In other words, how many dollars are Often a high proportion of net eamings. The II III II I I II QQII g f‘ .
armhctr’ uh is tian sellers. So if you Want to aC- you spending and how many are you trad- lack of audited financial reports occasional- I IIIIII II II; III 1;.
ne adr‘r‘ thus: Siqgtoodtnewspaper in any field, you ing in the deal? ly complicates sales of weekly properties II II III III III II . h

I. (r o ' - . , , . . gIIIIII 1. 7.
rulatIIIE’ pay more thtlm With the 1:deil that you will A buyer can figure he needs about Six The .value is there, but a buyer needs proof, II .IQ IIIII III II I
; 31)me b'lriker wh c you tiin its worth. Your weeks operating expenses on hand to get POSSIhIY 111 the fOI'm of income tax reports II III I3 II II. I w I

. ‘ omea ~ .- - . , , . . _ ’ I! ;I i ‘ III I, .
$82.1 ment, will pmbqslpliesdby bricks and equlp- started. If the seller ldoesnt leave him that A fifth formula is to take the net worth I’ IIIIIIIIIIII .II I . f: -:
Ilrngnet that price but ‘. y, isagiee With you on muchin cash or receivables, then hes prob- of the operation, including all assets, and I III III‘III II I ’

lished news 1 1n Iilecent years, no estab- ably in for more outlay. Some buyers and add three to four times earnings before IIIIIII IIIIIII I I 2‘ I
I : ~ . . . . I III: _- :5:
House .- What Seemsptfei) t at has been traded at sellers get together on a one-to-one ratio in taxes, and after the matter of depreciation ‘ IIIIIIII II I: II , QIFI I
uld amt failed to mqk 5 an elevated figure, has the balance sheet, and start negotiating from has been determined. IIIIIIIIIJII‘I II I ' III I? -
. c e Is a me ‘ ~ ‘ . . IIII‘I Ii I II ' .i“: :
rest}: profit, p y nts md Show a 3:161:13 2711:1133: IIIBCGSSHIY put and take to There are, of course, other formulas ' IIIIIIIII I I III » .
I 1 c .. ~, .. . . IIIIIIIIII' _,
IIngOII-I It is hard for your “m ,, ' (I . YVhIICh 1118 based on a combinatron 01‘ Var- IIIIIIIII QQII I I III ,-
I 0 Cd: your hwy” to real” Olrlleyman or even The first and .oldest formula of daily ration of these approaches. SometimeS, own- IIIi‘iIII'II II ‘I II '33?
1d 3d, 0V51‘-Shadow5 1101.qu Me t at goodWill far newspaper value is that it is worth its an- ers will try them all, and strike an average ‘QIIIIIIII III I I Q. IQ; i
the IIQIIQQ. paper earnings m; :{fffaand that news- nual gross. This used to be a good basis to as a basis for talking a sale. IIII’I III I. I . QI '
c . ‘ < e ~ (. 3 . , . jII I II - =
0“ the goodWill. Real estate .1 dlivec from that Stilt, bttt most 51195 tOdflY approach 125 Dont forget that buyers too have their II‘III I II II x
1m O't (n machinery are per cent of gross. In the boom areas of some ow t 1- b' ' , III ‘II I'Q I i»
p 1 ant of course but the h b 11 u n at at on value. A few veteran I III . :
a c ;_ c - . . _ ~ ‘II II : I I' , :’
SECOHdary factors In t . Y We ecome stltes, papers have sold for 150 pel cent of operators that I have known figure a news- I III.” I I II II ~'
drives I; $600,000 daily Cli'ln Shiecently, I saw a gross, or even hlgher, paper property ought to pay out in eight I QIIIII ‘I II II . a; :
the buyers had eVbi‘glfe anlds,.dand none of In the weekly field, most sales still re- years. That’s a pretty stiff target, but it can I IIIIIII I I . QI ”IQ
They analyZed financirtle; 1:151 e the plant. volve around the gross formula and the be done. Ten to 12-1/2 years is more real- i III'IIIIIIQIII1IZI III ‘SI
. a ements and the factor of equipment perhaps looms larger istic. If more time is required, the buyer I IQIIIIIIII ’I III . I; ’
‘I II IIII,III ;II " .3: 1
I :I I . IQ III I '
I II I .

l beagles flaryllof $116 azkiciIg price. bl' h New Depreciation Schedule O’Connor New Director
l ed nevihplzipfe: pjg‘lliersl a S:3:§Y?Ege:tc:n:m_ President Kennedy said June 14 that new Of Bhewers Assocmtion Class
:1 . ic security for its owners. It is doubtful Treasury depreCiation schedules Wlll be an- .President Edhhhd V- Lahey of the U3
‘ whether any local enterprise does better nounced by. July 6. Faster tax write-offs Bieweis Assoc1ation announced the a; To Dl
‘ than the weekly or semi-weekly in small under arev1sed Bulletin F are expected to pointment of John C OConnor of Nit
2 towns. The local distributors of the low- save busmess $1.2 billion annually. Publish- Ville, Tenessee,-as director of the USBA 1
I priced popular cars might outstrip the news- ers Will benefit by.being able to take larger Kentucky DiVISion to succeed John HQ Directm
1 paper, but in the large volume the dealers deductions on their mechanical. equipment. of Madisonvdle, Ky., who reSigned to exit Um‘
i do, they are in truth writing insurance for The Administration goal is to stimulate buy- another field of work.
i, the local publication. ing. Tax savings are supposed to be used Director O’Connor, 44, has bee“ H. A. Sch“;
‘ _ As you move beyond the weekly field, for capital investment In new machinery. sistant director of the Tennessee Divisi: managerhofttj
an excl sive dail news a er is the best ANPA has supplied data to the Treasury for the past four years, and bEfOreti ing at t e
l u y p h to 'ustif reduction in th “ sefil lif ” of ~ ' ' ago declared:
strictly 10031 earning proposition—investment 1. y . . e. h l e time was regional manager for mm W a A ractical
1 considered— equipment used 1“ PUthhmg- withL aI iialt‘ionfil :uiomobile :rlianufaclw; daily hewspap
l Sitting on the national sidelines as we ———__——_ at itte 0C ’ r ansas an Mempl elusive will of
l V do, prospective buyers constantly keep in There are not many, I can assure you. And Tennessee. 7 . and educators
5 f touch with us. A high percentage of these some of them have fancy ideas too. They .D.ur1ng \dorld War II he served iii years.
i buyers are already newspaper owners. They usually fall into two groups—those who want distinction m the U. S. Navy, rismg m "In divi dual
l 3 want to expand. Sometimes they name a to retire, and those who want to go. on to rank 0f commander. Stationed at Ma extensively. Sc
5 particular property. Sometimes they desig- a bigger property—using a 5319 as their cash at the outbreak of the war, he later sen} for research pi
. nate an area of investment to them. Many key to 51101" opportunities. Of course, trustee in the South Pacific and North Atlait a1 programs
1‘ of them are so—called “group owners.” 01' estate problems 1“ ownership are also theaters. Born in Nashville, he attend: some success
1 ' Quite often, independent publishers take reatslclmsl ttot Shhé We hive a pagicular mil-eh pUth SChOOIS and Vanderbilt Univers method for u
a dim view of group ownership. They-fear ihsin e thateh’eu: Seersh‘heelihr: 2: 2:11;): (:6; there, later studying law and was in: the newspaper
‘ that they’ll eventually take over the nation’s eagle The $0 pnot belorhg to barhktfrs ted to the Tennessee bar. He ls a if mary and secc
l . ‘ press. I do not agree that it is a serious loawpers or trhst officers except for the nec: degree Mason and an Elk Be 15 main partially realiz
i. ] threat. The newspaper business—as a busi- essay transition eriod th the former Mary Louise Winters 0”” Teachers t
l C ness—is subject to the same economic forces ngers of alfrm sometimes say to us— V1116, and has three 501-15- . _ p pace of presei
l] 1* evident in food marketing—manufacturing— “VVhat’s going to happen to the newspaper They W111 I‘eSIdB 111 L0uisi’llle, 119‘ newspaper mo
l ‘ ‘ banking—transportation, etc. where acqui— business with all these mergers?” Well it’s quarters of the Kentucky DiViSion win than at any otl
‘ i. sitions or consolidations are common. In true that newspapers are getting fewer in WflS established 21 years ago t0 WOkalW because Chang
‘ l ‘ newspapering, it depends on the policies some of our larger cities On the other hand “nth brewers, wholesalers and retailers that the newsp
i x; that group owners follow when they ac- there are mbre dail 'news apers in the carry out an educational program aiinfll means for kee;
1 ll quire a property. When they place a train- countrc to da than )t/here “here ten ears maintenance of high standards ln'llle- Second: the n
‘ 1.; 1 ed newspaperman in charge—give him full Syb by d‘ ,1, . t' y d tail sale of beer. This program incli: body of Cltizex
. l : leeway to act—then the property remains ago. . u ur an .a}ilies :rle Splhh 1h.g’ a1; contacts with state and local law eniofi mOCracy is uric
. I i fundamentally local. There need be few, $11932“:ng 23:1]deth wee ies (h semi-wee _ ment officials, the press, military and? To this situz
l . if any, major staff changes. If I minedg a iiezlvspaper it would be dif— lic officials throughout Kentucky: that though no
Another side 0f group ownership is that ficult for me to consider selling, unless age One principal aim is the ma 13th: Eirelfsmg steal
; such operators have the experienced man- or health were factors. If you have family and expanSion of the legal beer in Ham and eeping p.
1 power to do a good community job. And coming along who can take over, they Kentucky which contributes Shbhafihhi is qtslglveYS Sh(
l 1 lastly, they have the resources and know- should come first. Once you have decided the states expandirlig economykhgnelg: Th (2 teens
! how to insure the seller adequate protection to sell, you’ll find a choice of buyers at mg IHdIJStIY hmp OYS mhred ualp the Se: Olre, tl
. k : for his.eq.u1ty, Where a pay—out over several your door. You can pick one that you be- Kentuckians With a combine arm f he] ch 00 has
‘ l , years in involved. lieve best to carry on. roll of $53,000,000 and pays more t gt e teache
l ‘ Then there are buyers who come to us, Itook five buvers to one publishing prop- $7,000’000 annually to state and hm (; late sour-Ce
‘ y . who have a varied and checkered back— erty a few years back. The Owner met and ernments WhiCh helps. operate gnu gurlfe today, .
i ll ground as journalists. Some Of them lUSt talked with all of them in individual ap— SChOOIS’ pave modern highways anh: readyollngsters
l1 want to retire from Madison Avenue, and pointments. He finally decided on the one vide old age assistance and pubhC e. be iizlgllha‘hlt S
ii h ‘ run a newspaper! They specify “dream he preferred. It was the high bidder, but it programs. SChoole Info“
ii towns;” no competition; high growth 130' could happen that the highest bid is not -——‘.’1‘ led Wh. .
i tential, and a dazzling bright modern plant. always your best one, all things considered. Massachusetts Supreme Court rud'fl mitt en Pre51di
ll All at bargain prices, of course. Who can do the best with your property cently that a business can Spend ‘1‘ fewee on New
ll This compels us to say that it’s about and for your community are very important ing money to oppose a state Incomt‘ Workwehkshgq
: 12 time to take the glamour out of newspaper considerations. ' proposal slated to come up for fled and sdhthl 1t, I:
ll . ownership, and concentrate on the more After all, newspapers belong to men Who in this fall’s election. Court denI 1 due {Hg t a ff
; l ' ' exciting tasks that bring satisfaction to a are journalists, publishers, and newspaper— injunction to a stockholder of Lytron. materhrie) our ‘
ii _ dedicated publisher. There are countless men. They have interchangeable parts. They Cambridge, Mass, who sought to 5m, tions 1a, t0 “’0
li newspapers in good towns whose owners should be intelligent men, who at the high- company and its officials from Spell]; this ngiere; Wh
l are doing extremely well, even if the cli- est ethical level, act in good faith for genu- $500 for advertising and other aft“! objectiyshaher
l mate or location fails to rate the “Who’s ine community betterment. If they do