December 18, 1991 |
Like a pair of bloodied prizefighters, the New York Daily News and the New York Post traded charges about each other's financial health Tuesday in the latest volley in a long-running tabloid war that one or both will likely lose. The News, in an article headlined "POST IS CRYING FOR CASH," reported that its rival's publisher, Peter S. Kalikow, "is scrambling for $5 million to help the tabloid pay its bills."
December 12, 1991 |
The Spanish pathologist conducting Robert Maxwell's post mortem said Wednesday that it is unlikely he committed suicide and that he may have suffered a heart attack and fallen from his yacht, according to a report. In addition, British authorities Wednesday proposed reforms of pension fund regulations to prevent future looting of employee funds by cash-strapped corporate leaders in the Maxwell mold.
December 11, 1991 |
In talks convening today, the New York Daily News will seek concessions from its employees in return for an ownership stake in the tabloid, though prospects for success seemed cloudy as union leaders were balking at accepting cutbacks in wages or staffing. "We're not bargaining," Newspaper Guild Local 3 President Barry Lipton said. "We've already given all we can."
December 10, 1991 |
Kevin and Ian Maxwell were pleading with British authorities early today for a last chance to salvage the remains of a financial empire that stands in rubble, the legacy of a larger-than-life father who turns out to have been much less than he seemed. By mysteriously falling from his yacht into the Atlantic last month, Robert Maxwell himself escaped the fast-approaching exposure of his massive financial improprieties.
December 7, 1991 |
Even as the public glare focuses on the life-or-death struggle of the New York Daily News, another drama is unfolding quietly as investors map plans to grab choice Macmillan Inc. assets from the wreckage of the Maxwell publishing empire. While Maxwell Communications Corp., the British company that owns the U.S.
December 6, 1991 |
The New York Daily News ventured into uncharted territory Thursday when it became the first major newspaper to seek refuge under Chapter 11 of the federal bankruptcy code. On one hand, analysts and bankruptcy specialists said, the risky strategy of last resort could shield the News from the crumbling Maxwell publishing empire's overseas woes and give the paper breathing room to recover or seek a buyer.
December 6, 1991 |
The Maxwell publishing empire collapsed Thursday beneath a heap of debt, driving the New York Daily News into bankruptcy court protection and hoisting a score of celebrated publishing and communications properties onto the auction block. Four weeks after financier Robert Maxwell's death at sea, his sons Ian and Kevin asked the British high court to appoint administrators to run the family's two major private companies, which have debts of $2 billion.
November 9, 1991 |
"Like father, like son," was the message Kevin Maxwell sought to convey Friday on a lightning visit to nervous executives, staff and union leaders at the New York Daily News. Maxwell, 32, became chairman and publisher of the New York tabloid Wednesday, succeeding his flamboyant father, British publishing magnate Robert Maxwell, who was found dead off the Canary Islands after disappearing from his yacht. The elder Maxwell bought the tabloid from Chicago's Tribune Co.
November 6, 1991 |
Shock and sorrow over the death of New York Daily News savior Robert Maxwell mixed with anxiety over the paper's future Tuesday, even as Kevin Maxwell was named publisher of the money-losing tabloid and vowed to continue his father's support for it. "My father was tremendously excited by the News and its prospects," Maxwell, 32, said in a statement. "We are completely committed to continuing the marvelous comeback of the newspaper by providing the support it needs to prosper in the years ahead.
July 13, 1991 |
James Hoge announced Friday that he is resigning as publisher of the New York Daily News, four months after the tabloid was sold following a bitter strike. "After seven fulfilling and productive years as its publisher, I wish the Daily News and Bob Maxwell every success," Hoge said in a statement. Hoge will remain a consultant to Maxwell Newspapers Inc., parent company of the Daily News. He also accepted an appointment for the fall semester as senior fellow at the John F.