NEWSPAPER DEAL

Ashburton Guardian, Volume XLV, Issue 10169, 26 July 1924, Page 5

NEWSPAPER DEAL

"A BUSINESS DECISION."

LORD ROTHERMERE'S OBJECTS.

LONDON, July 14. Lord Rothermere, in a signed article, explains his main object for purchasing the Hulton publications. It was not to establish a newspaper trust, as his critics declared, but to secure the control of the "Daily Sketch" and the " Sunday Herald," which were the principal competitors of the " Daily Mirror" and the " Sunday Pictorial." "It was solely a business decision, based on ordinary commercial considerations," Lord Rothermere said. "Pictorial journalism always had very special attractions for me, and I devoted much attention to its business possibilities. I consider that it has a future more vast than many newspaper experts yet realise. There are openings now for additional daily and weekly picture newspapers, which would be undoubtedly successful if there was ample plant and the right men to run them." Lord Rothermere explains that he disposed of most of the Hulton publications, and obtained for the Manchester group £500,000 more than the whole Hulton group cost him. He sold to Lord Beaverbrook the preponderating interest in the "Evening Standard," not desiring to control it as well as the "Evening News." One million six hundred thousand 6£ r>er cent, debenture stock of the "Daily Sketch" and the "Sunday Herald" are being offered to the public at 99.