NEW OWNERS FOR ESQUIRE

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP88-01314R000100500007-3
• Release Decision: RIPPUB
• Original Classification: K
• Document Page Count: 1
• Document Creation Date: December 16, 2016
• Document Release Date: October 5, 2004
• Sequence Number: 7
• Publication Date: August 27, 1977
• Content Type: NSPR

'$ WASHINGTON POST
Approved For ReleaW2~M219'IA-RDP88-0131
w Owners for Esquire
It's Sold to Clay Felker et al, Who Want to Make ii 1V.Core Tiniei r'
B y Judith Martin i mained adamant about not isclosing Felker and. Flarmsworth "want to aim
and Karen De IP/itt the price. the magazine more at the decision-
. Esquire's new owners have acquired makers in New York, Washington,
Esquire magazine as been sold to all the stock,of; the magazine,.in ex- Houston and Los Angeles."
editor Clay Felker, g change for preferred' stock in} the
graphics designer newly-formed a uirin company, I squire was founded in 1903 by Ar-
Milton Glaser and the London-based g nold Gingrich,. Who died last year, and
which has not yet- been given. a name
Associated Felker told staffers that he wants the
. News Group, it was an- The- corporation; -owned by Harms-, 'magazine, to be again "the'
pounced yesterday in New' York. wortha Briton; publishes 44 daily-and; magazine
The new, owners plan, to; convert the weekly newspapers urcIuding 5#he, that Arnold Gingrich founded.''
44-year-old : features .. and. fiction Daily Mail and the Evening-News. of In its early days, it published the
monthly hard hit financially in re- London. It also has holdings in maga work of Thomas Wolfe, William
cent years-into a "more timely." bi- tines; North Sea oil, restaurants, fur. ' Faulkner, Ernest Hemingway, F. Scott
weekly. At a staff meeting yesterday, niture companies, transportation, real' Fitzgerald, Saul Bellow,, Damon Ftu
Felker said he was considering : put- estate and Canadian newsprint mills. nyon, William Saroyan, Ralph Ellison
Ling the motto "The` Magazine for Its annual report lists net assets of; and Vladimir Nabokov, afliong others.
VIcn" back on Esquires cover, which more than $106 million as of last April Its decline was marked. dramatically
still carries the logo of an. old man's and pre-tax earnings of $21 million
in 1974, when the W.R. Simmons-Co.
happy face.. The announcement of the sale noted
published _-6,
_ y Oi Es;
Stud
that Esquire had suffered from rleelin-.- a dem gra
r'
esterd
Reached in New Veb
a
y
ay
hickd-
-aking over Esquire. "I've been out though the. figures were said to be im- .f '"?? c din uu auverZisers_
Jf journalism for nine mnn+hs nn.x, proving in the last two boars. The sir- cor l to a staffer from..,the
,
Associated News Group, Flarmsworth
Felker said that he wanted to spend Felker was known to be looking was anxious to get Esquire bbecause: he
:ome time at t
e magazine be
ore he for a publishing venture since he lost
Esquire cau
.
h
f
hd bn d
se
aeeefeated in made any changes in it,
he
adding, how-
N
"
'
,
ew York magazine
It
its anbi the Londo Dil Stdd
. ovousnayanar, the Lon-
ever, that he planned to "aim it more place for him,' said writer Nora Ep'. don Daily Express and, recentlyi,'the
toward m
n."
e
hron who satiidaiditr N YkPt
,rze a mgazne eo,ewor 'os, which Mtl4doch
"With the women's movement , called "Clay Filter". in a column.'in . bought. He added that' Harms wx-ti 's
-men's role in .America today needs to the April Esquire, "That's a magazine ., father, Lord Rothermere, who itired
be looked at," he said, "I'd like the that Madison Avenue. went cold on a from the group to Florida, had--told
magazine to investigate men's role in couple of years ago.. Now they'll- come him, "You've got to buy something"
. the country. See what It is, where it's back because there'll be a strong, Harmsworth had gone, to pi~zdy-
mooing
"
energetic editor
land with his sotdyd
.n yesera; an Felker had been fired from Esquire Senior editor Christopher Buckley . : could not be reached '
after being an editor there from 1957 said that the staff feeling yesterday
~o 1963. He eventually took over New was relief "that the other shoe has
York magazine, which,, became an dropped. We've been living with the
Esquire rival but last January, In a rumor of this sale for, a couple of
oitter power struggle. with Australian:. months.. You can't, get any work done.
Dublisher.Rupert, Murdoch,;..',he,Iost when you're constantly hearing that:
-ontrol` of the New York Magazine you're going to be sold."'
lompany,: which--also publishes New ` Yesterday's staff meeting, said
Vest magazine and The. Village .Voice. Buckley, was "very cut and dried. .
Felker will be president' and. chief' 7 her was very-soft-spoken. He: said'?
xecutive officer of Esquire; and Vere' he would be moving into his offices
larmsworth, who heads the Associ ' next week some time.".
ted News Group, will be its chair- He also. said there would be no ma
Tan? Byron- Dobell wilt'continue as ]or staff changes, d
litor, and David M. O'Brasky.as pub- Aaron Latham, who had' quit New
#her... ... York when, Felker did and had, previ-
-The amount of the sale wa`s not an- ously worked for Esquire,; said'. yester'-
Dunced,,. and,, Felker night.. rQ-. day -that he has been "led to believe.
th
t I
a
will be workig f Cl
noray again.
We've, had endless talks about where
he would like the magazine. to go:.:
Clay has: a phrase-he says he- hopes
to hook Esquire, to the engine 'of the
news, make Esquire more timely." '
Buckley said, he,: understands: that
Approved For Release 2004/10/28 : CIA-RDP88-01314R000100500007-3