Block & Hearst

For 20 years Publisher Paul Block has been expanding his business, buying a newspaper here, a newspaper there. Today he owns the Newark Star-Eagle, the Brooklyn Standard-Union, the Pittsburgh Post-Gazette and two other dailies. All are profitmakers.

Last week Publisher Block began a new chapter in his journalistic adventures. But this time he did not buy a newspaper. Instead, he acquired the sole right to sell all the national advertising space for William Randolph Hearst's New York American. The agreement came thus: To Publisher Hearst, as is generally known, the American is more of a political pride than a profitable joy. Sometimes it makes money; more times it does not. Not long ago, with this fact in mind, Publisher Hearst cast his eye about, saw Pub lisher Block making money as a com petitor in Pittsburgh (TIME, Aug. 13); saw him conducting also a large, selfsupporting business in selling space for news papers not owned by him in cities far from where they are published. Publisher Hearst remarked that he would like to be interested in newspapers with "this man Block." Conferences and the American agreement resulted. Publisher Hearst was pleased to have much worry suddenly re moved from his large but heavily burdened shoulders. Pleased also was Publisher Block, for with the added worry to his shoulders came added opportunities. The agreement meant a closer association be tween the two publishers, and friends of Mr. Block argued this possibility: were Mr. Block to keep the American substantially out of the red, might it not some day be profitable for him to buy the news paper? And might not that lead Publisher Block to buy other Hearstpapers? Publisher Hearst is 66, a selling-out age; Publisher Block is 52, a good age for buying.