5-22-86 Agenda & Packet - Laserfiche WebLink

Home Browse Search

May 15, 1986 Leisurehawitry,Digest 5 Washington Post Co. earnings fell $1.5 ODU B LIS H I N G million to $12.4 million on debt refi- nancing Tribune Co. of Chicago sold its Los Angeles Daily News for $176 mil- One in every 8 Americans--23 million lion and posted 1st quarter profit of people--are illiterate, and another 23 $106.9 million New York Times had million have only minimal reading/writing profits of $33..9 million for quarter, up skills, the American Newspaper Publishers slightly over $32.3 million year earlier. Assn. heard at its convention last month. Company acquired 5 newspapers and 2 TV Newspaper profits were strong last year, stations last year Capital Cities/ and another good year is anticipated for ABC quarter income of $281.9 million in- 1986: up 10% in 1985, with similar gain cluded a one-time gain of $279.9 million predicted. Further "bad news/good news" from sale of 3 tv stations, 3 radio sta- was the fragmentation of TV audience by tions and cable-tv system. cable/cassette, and development of nati- onal business system to assist national advertisers use networks of newspapers. THEATERS, Event in San Francisco was ANPA 100th. * * * * * * * * AUDS & ARENAS Two more issues are planned this year for a new Time Inc. regional real estate mag- As the 1985-86 season winds down for azine (N.Y., NJ and Conn.) . First run of 150,000, plus 10,000 newstand is aimed at Broadway and the road, the financial pic- married men, age 43, with household in- ture and attendance for the season will come of $130,000. Eventually, as many as probably be below last year, which was 8 regional magazines are visualized not a lively year in itself. Thru the Time Inc. magazine earnings rose to $36 47th week, total receipts of $385 million million from $27 million a year ago; and compare to last season's $390.3 million. profits rose 6% in advertising and 12% Road attendance and receipts plunged, as in circulation. Southern Progress Corp. two popular shows, "My One and Only" and figures were included. Video group im- "Sugar Babies," completed their runs. On proved income from $57 million to $71 Broadway, Variety reported, receipts were 111/1 million; earnings of book division fell up slightly (2.6%) as 14 shows gained, and 6 declined. Newcomer and widely tout- to $14 million from $19 million, ed in PR campaign "Precious Sons" capacity * * * ** * * * hit 30.9%. "Cats" continued at capacity- Mass/popular magazines were not the top plus as did Lily Tomlin's solo "Search for winners of 13 prestigious awards from the Signs." * * * * * * * * American Society of Magazine Editors, but some winners were of particular Interest: "Big River" musical about Mark Twain's Rolling Stone won for an article on AIDS, Huck Finn will reach the break-even point Time won for design; The Georgia Review during current run at Kennedy Center in Tor fiction; New England Monthly for gen- Washington; and for Broadway company the eral excellence (in the under 100,000 $2.25 million invested has been recouped, circulation category) . A similar excel- and $1.75 million has been returned to lence award went to Money, in the more investors so far. "River" breaks even than 1 million circulation group. every week at around $200,000 and has made a profit every week since winning * * * * * * * * the Tony last June. Scribners "20 Under 30" anthology of stories by new writers has received wide publicity. The critical reaction has Carnegie Hall and Madison Square Garden been lukewarm, pointing out that youthful unveiled building plans in the past two writers have been successful before: Nor- weeks. A new "Garden" will be built two man Mailer was 25 when "Naked and the Dead" blocks from the current site; about $200 was published; Philip Roth was 26 when million construction is planned for big- "Goodbye Columbus" was published. Short ger, "cheaper to run" facility. Construc- story form is now the vehicle, rather than tion is to begin in two years and complete novel; and most of Scribners writers came work in 1990. A 59-story office tower to from universities and/or writing programs. be built just east of the concert hall is Other young writers of the past: Heming- expected to provide about $45 million in way was 27 when "Sun Also Rises" appeared; rental payments to Carnegie Hall and to F.Scott Fitzgerald was 23 when he wrote NYC. The tower was planned before other "This Side of Paradise." office towers sprouted in area, causing 1110 chaos and civic reaction.:,