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...purchased by anyone who had a desire to own a large morning newspaper and $15,000,000 in cash. Mr. Annenberg had both. Forthwith he sent one of the five Annenberg sons-in-law to Paris to dicker with the Inquirer's socialite owners, Mme Eleanore Elverson Paternõtre and her sleek son Raymond, onetime Undersecretary of State for National Economy, member of the Chamber of Deputies and publisher of the Paris Petit Journal. Last week the deal went through. From his modest Manhattan offices, Purchaser Annenberg announced that he was taking over active control of the Inquirer...

Author: /time Magazine | Title: The Press: Philadelphia Purchase | 8/10/1936 | See Source »

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