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Andrew HeiskellAndrew Heiskell
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Session:         Page of 824

Q:

'78 it was acquired.

Heiskell:

It was acquired, yes.

Q:

It was acquired the same year as ATC and the Washington Star.

Heiskell:

As a matter of fact, it was one of the most difficult closings that lawyers have ever done, because it had to be a double closing--ATC and Inland--and they were both enormous, enormous acquisitions.

Q:

You mean, they just happened to be at the same time?

Heiskell:

Well, if you've got--if your intent is to do the two things, you've got to file with the FCC. These are documents about two inches thick. And when you have two of them, they have to interconnect: what will be the impact of one on the other, and of the two on Time Inc., and of Time Inc. on Inland, and--

Q:

But you also had the Star in the same year!

Heiskell:

Yes, but for some reason or the other that was not an issue as far as the filing of it was concerned. But anyway, in Inland--but Arthur Temple was always interested in buying one thing or another. He wanted to buy an oil company called Eason--that was after the first oil crisis--so that we could hedge ourselves by owning one. Turned out, fortunately, we didn't get anywhere on that.





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