The Fourth Estate

“It won’t matter in the first week,” said Kate. “If the bookshops stand to make that sort of return, it will be in their interest to put the book in the window, on the counter, by the till, even on the best-seller shelves. My research shows that we’ll only have to sell ten thousand copies in the first week to hit the number fifteen slot on the best-seller list, which works out at less than ten copies per shop.”

“I suppose that might just give us a fifty-fifty chance,” said Townsend.

“And I can lower those odds even further. In the week of publication we can use our network of newspapers and magazines across America to make sure the book gets favorable reviews and front-page advertisements, and put my article on ‘The Amazing Mrs. Sherwood’ in as many of our journals as you think we can get away with.”

“If it’s going to save me a million dollars, that will be every one of them,” said Townsend. “But that still only makes the odds a shade better than fifty-fifty.”

“If you’ll let me go one step further, I can probably make it odds-on.”

“What are you proposing? That I buy the New York Times?”

“Nothing quite as drastic as that,” said Kate with a smile. “I’m recommending that during the week of publication our own employees buy back 5,000 copies of the book.”

“Five thousand copies? That would just be throwing money down the drain.”

“Not necessarily,” said Kate. “After we’ve sold them back to the shops at fifty cents apiece a second time, for an outlay of $15,00

0 you’ll be virtually guaranteed a week on the best-seller list. And then Mr. Yablon will have to return your second million.”

Townsend took her in his arms. “We just might pull it off.”

“But only if you get hold of the names of the shops that report to the New York Times best-seller list.”

“You’re a clever girl,” he said, pulling her closer.

Kate smiled. “At last I’ve found out what turns you on.”

* * *

“Stephen Hallet is on line one, and Ray Atkins, the minister for industry, on line two,” said Pamela.

“I’ll take Atkins first. Tell Stephen I’ll call him straight back.”

Armstrong waited for the click on his latest toy, which would ensure that the whole conversation was recorded. “Good morning, Minister,” he said. “What can I do for you?”

“It’s a personal problem, Dick. I wondered if we could meet?”

“Of course,” Armstrong replied. “How about lunch at the Savoy some time next week?” He flicked through his diary to see who he could cancel.

“I’m afraid it’s more urgent than that, Dick. And I’d prefer not to meet in such a public place.”

Armstrong checked his appointments for the rest of the day. “Well, why don’t you join me for lunch today in my private dining room? I was due to see Don Sharpe, but if it’s that urgent, I can put him off.”

“That’s very kind of you, Dick. Shall we say around one?”

“Fine. I’ll see that there’s someone to meet you in reception and bring you straight up to my office.” Armstrong put the phone down and smiled. He knew exactly what the minister of industry wanted to see him about. After all, he had remained a loyal supporter of the Labor Party over the years—not least by donating a thousand pounds per annum to each of fifty key marginal seats. This small investment ensured that he had fifty close friends in the parliamentary party, several of them ministers, and gave him an entrée into the highest levels of government whenever he needed it. Had he wanted to exert the same influence in America, it would have cost him a million dollars a year.

His thoughts were interrupted by the phone ringing. Pamela had Stephen Hallet on the line.

“Sorry to have to call you back, Stephen, but I had young Ray Atkins on the line. Says he needs to see me urgently. I think we can both work out what that’s about.”

“I thought the decision on the Citizen wasn’t expected until next month at the earliest.”

“Perhaps they want to make an announcement before people start speculating. Don’t forget that Atkins was the minister who referred Townsend’s bid for the Citizen to the Monopolies and Mergers Commission. I don’t think the Labor Party will be ecstatic about Townsend controlling the Citizen as well as the Globe.”

“It’s the MMC who’ll decide in the end, Dick, not the minister.”

“I still can’t see them allowing Townsend to gain control of half of Fleet Street. In any case, the Citizen is the one paper that’s consistently supported the Labor Party over the years, while most of the other rags have been nothing more than Tory magazines.”