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Arizona Republic from Phoenix, Arizona • Page 23

Publication:
Arizona Republici
Location:
Phoenix, Arizona
Issue Date:
Page:
23
Extracted Article Text (OCR)

the Arizona Republic A-17 Thursday, Sept. 4,1975 Publisher to get full control NY lacks a er 6 stations will be sold funds for relief pay tfoltitd Press International NEW YORK Mayor Abel Beame and Gov. Carey failed to reach agreement Wednes- day on a plan to take the lubber out of relief checks being mailed to the 'jity's 1.1 million welfare recipients. A spokesman for the city's Social Services De; part merit said more than $71 million in welfare chedks will be mailed todajy although the city currently lacks the funds to bick them up. "'Ye are hopeful that some contingency plan will be worked out so that the banks will honor the checks," the spokes- mar said.

However, Beame and I Carsy left a meeting at governor's office Wednesday still at odds on ietails of a program to keep the city from defaulting on $120 million in debts that become due Friday. fihey agreed to meet latejr Wednesday in Albany to find common ground for a program to preisent to the state legislature scheduled to meet in special session today on ihe city's fiscal crisis. Beame balked at a program proposed by the Municipal Assistance Corp. that called for strict controls on the a budgetary powers to meet the city's cash needs for the next three years. Beame said the plan, whjch would virtually Associated Press WASHINGTON Washington Star publisher Joe L.

Allbritton announced an agreement Wednesday with the three families that operate the newspaper to purchase full control of the paper's parent company and six broadcast stations. The price will be the same as an earlier offer turned down Aug. million for 17,846 shares of stock at $1,600 a share, to be paid for Washington Star Communications Inc. by AHbritton's Perpetual Corp. of Delaware.

The main differences in the new offer are plans to subsidize the financially ailing Star with broadcast revenues. AHbritton's offer is subject to Federal Communications Commission approval of his keeping the broadcasting facilities at least long enough to help the Star survive. He seeks two years if the FCC grants a tax break because of forced divestiture, or three years if the tax certificate is disallowed. This is a compromise of AHbritton's original request for five years' grace. FCC rules prohibit, common ownership of newspaper and broadcast stations or more than one broadcast outlet in a single market.

Established combinations generally may continue but they must be broken up when one. part is sold. Allbritton said he expects the FCC to allow him two or three years. But he doesn't expect it will let him keep all the radio and TV stations. He said divestiture might be accomplished by sales or swaps for other stations.

The next move will be up to the FCC administrative law judge who scheduled hearings this month on Allbritton's original request to waive FCC rules and let him buy the stations. The FCC refused the request and ordered hearings. If FCC approval is denied the situation would return to the present status, wherein Allbritton is Star publisher and principal owner and owner of only 10 per cent of Star Communications stock. China recognizes Bangladesh rulers HONG KONG (UPI) China has recognized the People's Republic of according to a New China News Agency Report monitored here. The recognition was contained in a message from Premier Chou En- lai to President Khondak- er Mostaque Ahmed.

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Pages Available:
5,583,683
Years Available:
1890-2024