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Andrew HeiskellAndrew Heiskell
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Session:         Page of 824

negotiators known in this world, at least. He had made his fame by being in the cemetery and undertaking business. As a matter of fact, I think his company was called “The Perpetual” [laughter]. It made a lot of money in Texas, and then decided to be on the big stage in Washington, and bought The Star as part of that.

As I was saying, Shepley was convinced. And he made lots of studies and lots of presentations to the Board. And I kept saying: “O.K., if we're going to do this, we have to get a top-notch publisher-editor, who knows about the newspaper business.” Well, we made passes at a couple of people, and they were unsuccessful.

Q:

You're now talking about the 1978 period where you ultimately did buy?

Heiskell:

Yes.

Q:

Where Albritton came to you again.

Heiskell:

Yes, when he came to us again, and the terms were better--of course, the newspaper was also suffering more. I think their share of the advertising market was down' to[at?] about 30%, something like that--

Q:

Go ahead, keep talking.

Heiskell:

--and the Washington Post was getting stronger and stronger. So then--





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