N.Y. Post saved by investor
The cash-starved New York Post newspaper stepped back from the brink of extinction yesterday. The head of a medical debt-collecting company resurrected the feisty tabloid Sunday night, just hours after owner Peter Kalikow had told managers he was preparing to suspend publication.
Steven Hoffenberg, chairman of Towers Financial Inc., agreed to put up enough cash to keep the 192-year-old Post afloat for four more weeks while he was negotiating a buyout. "The New York Post does not deserve to die," he said. Mr. Kalikow was reported preparing to begin negotiations with Mr. Hoffenberg sometime yesterday.
The reprieve was announced at the end of a tumultuous day in which employees agreed to take 20 percent pay cuts. But the Post's banks decided that was insufficient to restore the paper's credit, which had been cut off Friday. TV Guide plans parents' magazine
The publishers of TV Guide plan to launch a quarterly parents' guide to children's entertainment ranging from TV shows and videos to books and toys. The first issue is expected in late May.
Mary Brener, associate publisher of TV Guide, said that the rise in the number of mothers who work outside the home has intensified demand for handy, reliable guidance on choosing entertainment for children.
The new magazine, which will cost $1.79 at newsstands, will be called TV Guide's Parents' Guide to Children's Entertainment.
About 60 percent of the magazine will be devoted to reviews of television programs, videos, movies, musical recordings, books, and toys. Features will fill out the rest, including behind-the-scenes stories about TV shows. Golden Globe awards announced
"Scent of a Woman" won best dramatic picture and its star, Al Pacino, won best actor Jan. 23 at the 50th Golden Globes. Britain's Emma Thompson won best dramatic actress for "Howards End."
The hard-bitten western "Unforgiven" earned best-director honors for Clint Eastwood and a supporting actor trophy for Gene Hackman.
"Indochine," starring Catherine Deneuve, won the Golden Globe for best foreign-language film.
"Scent of a Woman," also winner of the screenplay trophy for writer Bo Goldman, was a surprise winner for dramatic film, beating "The Crying Game," "A Few Good Men," "Howards End," and "Unforgiven."
Miranda Richardson, the carefree vacationer in Italy in "Enchanted April," won best musical or comedy film actress.
The animated feature "Aladdin" won twice: Alan Menken for original score; Menken and Englishman Tim Rice for the original song "A Whole New World."
The winners of the 50th annual Golden Globes were selected by the 90 members of the Hollywood Foreign Press Association. The awards often serve as a bellwether for the Academy Awards. Joan Plowright, the fiesty widow of "Enchanted April," won best film supporting actress.