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Andrew HeiskellAndrew Heiskell
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Session:         Page of 824

good shape, so that the disaster at The Star was more of a psychic disaster than it was a financial disaster to us. I mean, 60 million dollars is a lot of money, but 60 million dollars in the late 1970s was not the same as 60 million dollars would have been in the late 1960s. That could have sunk the ship.

Q:

Right, right. In the late 1970s Time had revenues of 2.5 billion--in '79. The net income of 143 million dollars. So--to put that, what you just said, in perspective.

Heiskell:

So it was loosing 20 million dollars a year before taxes, ten million after taxes.

Q:

Okay. Anything else on The Star?

Heiskell:

No, I prefer to forget it [laughter].

Q:

[laughter]. Okay. Let's talk about, again from the beginning--you might want to bring in Eastex, even though that was in the 1950s. Let's talk about Time Inc. and the whole forest products area, and as much detail as possible on the Temple situation, and then Inland.

Heiskell:

Did we cover Eastex?

Q:

No, not really.



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