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Andrew HeiskellAndrew Heiskell
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Session:         Page of 824

what the animal was! At one point we backed away from cable and sold our cable systems to ATC, and they wouldn't buy Manhattan Cable because it was so expensive to dig through Manhattan and they were afraid of all the politics involved, and so on so on. And I kept saying, “But you're crazy! If you control Manhattan, you sort of control the U.S.” I was repeating the experience of over-the-air TV. The important thing was to have a station in Manhattan, in New York, in the area. I believed that, but I think if it hadn't been for the fact that nobody would think of buying Manhattan Cable, it would have gone back to A.T.C. or somewhere. So we now end up with an enormously prosperous Manhattan Cable Company, through really no fault of our own.

Q:

Right. Okay. We'll talk about that. Actually, before we go on to talking about the specific areas of the corporation, I wanted to go back to our previous discussion, because I forgot to ask you something having to do with board matters and stock matters and things like that. From your point of view, who were the constituents of Time Inc.? In whose behalf, in other words, did you act as chairman of Time Inc.?

Heiskell:

Oh, I suppose the two chief constituents were the managements and the employees as the whole--not the stockholders. I always thought the benefit of the stockholders would follow. If those two constituents did well, then the other things would work.

Q:

The two constituents being the management--





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