BIG NEWSPAPER DEAL.

Hokitika Guardian, 30 July 1924, Page 1

BIG NEWSPAPER DEAL.

"A BUSINESS DECISION.” LONDON, July 1-1. Lord Kutherinere. iu tt signed article, explains ltis main object for purchasing the 11 ul to i ■ publications. It was not to establish tt newspaper trust, as Ii is critics declared, but to secure the eotttrul 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 oil ordinary commercial considerations.” Lord Rothcrmerc said. “Pictorial journalism always littd very special attractions fur me. and ( devoted much attention to its business possibilities. I consider that it lias a Ittturo more vast than many newspaper experts realise. There are openings now for additional daily and weekly pieture newspapers, which tumid be undoubtedly successful if there wtts ample plant and tlie right men to run them.’’ I.:ird Rothermore explains that be disposed of most of the llulton publications, and obtained for the Manchester group £so').till!) more than the while JI ti 1 toil group cost him. lie sold te Lord' Beaverliiook tit" prepomiciv. - ting interest in the “Evening .'standard.” not desiring to control it as well as the “Evening News.” One million six hundred thousand fit per tent, debenture stock of the “Daily Sketch" and tin* “Sunday llera 1 I" are being offered to tin* public at