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prove that magazines were not dead. And so we started a magazine development group under Otto Feurbringer and Bernie Auer, who had been publisher of Time. The group was, I don't know, maybe ten, twelve people. Mostly editorial types. They conceived after quite a while, of a notion of creating four magazines that would be totally different subject matter but would be monthlies with a circulation of maybe two hundred and fifty thousand. And they would have a joint management, joint promotion, joint circulation; namely you'd get the economies of scale by virtue of having four magazines even though each of them was reasonably small. One had to do with health, I think it was called Wealth, no called Well-not called Wealth[laughter]

I couldn't make the connection there.

One had to do with Hollywood and the movies and I forget whether it ever had a title. I think the third had to do with photographs and the forth had to do with money, and was called Money. And we dummied up these four magazines and then we made direct mail tests on all four and the results of the test were quite disappointing, except in the case of Money. So we continued to work on the others, rather half heartedly, but did decide to launch Money. And it was what you'd think a magazine by that name would be, except that somehow the other the editors and the promoters didn't seem to get together as to their interpretation of the magazine. And after the launch it seemed that the promoters were describing one kind of magazine while the editors were producing a different kind of