Session: 1234567891011121314151617         Page 138139140141142143144145146147148149150151152153154155156157158159160161162163164165166167168169170171172173174175176177178179180181182183184185186187188189190191192193194195196197198199200201202 of 824

In the late 1950s.

Yes, in the late 1950s. But--

Was that a mistake?

Well, in retrospect, all you can say is, “What the hell, why didn't we all fold our tent and go away?” Because in retrospect, you can see that TV was going to win this battle come what may. But human beings don't act that way. They don't commit suicide; they die slowly. [laughs] And we went through a long process of trying to survive. Occasionally, we would pick up a bit for one reason or another and do better. I think in the mid-1960s we had sort of a revival, and we made a fair amount of money in 1966. By then, I think the Post had gone down the drain. And then we bought the Post circulation, which was probably a mistake, although, again, who knows? I doubt the outcome would have been any different if we hadn't.

This is 1968 that you bought--

1968, was it? Yes, 1968. Because at that point, we already could see that unless something happened there wasn't going to be any LIFE somewhere down the road. And it was also then, at that point, and mind you--here I'd been chairman of Time Inc. for the last eight years, but I think I was spending a disproportionate