“Townsend managed it with the Globe,” said Armstrong. “As I know to my cost.”
“That was a quite different situation,” said Russell, beginning to sound desperate.
“And I’ll bet he does it again with the Star.”
“From a far more viable base. Which is precisely why I recommended that you should mount a takeover bid in the first place.”
“And you failed,” said Armstrong. “So I can’t think of any reason why we shouldn’t at least give them a hearing.”
The limousine drew up in front of the Trump Tower. The two lawyers from Chicago were standing there waiting for them. “How did they manage that?” asked Armstrong, pushing himself out of the car and onto the sidewalk.
“I suspect they walked,” said Russell.
“Follow me,” said Armstrong to the two lawyers, as he marched off toward the lifts. None of them said another word until they had reached the penthouse suite. Armstrong didn’t ask if they would like to take off their coats, or to have a seat, or offer them a cup of coffee. “My attorney tells me that your paper is bankrupt and that it is most unwise of me even to agree to speak to you.”
“Mr. Critchley’s advice may well turn out to be correct. Nevertheless, the Tribune remains the New York Star’s only competitor,” said Withers, who seemed to be acting as spokesman. “And despite all its current problems, it still commands a far higher circulation than the Star.”
“Only when it’s on the streets,” said Russell.
Withers nodded but said nothing, obviously hoping that they would move on to another question.
“And is it true that it’s in debt for $200 million?” said Armstrong.
“Two hundred and seven million, to be precise,” said Withers.
“And losing over a million a week.”
“Around one million three hundred thousand.”
“And the unions have got you by the balls.”
“In Chicago, Mr. Armstrong, we would describe it as over a barrel. But that is precisely why my clients felt we should approach you, as we do not have a great deal of experience in handling unions.”
Russell hoped his client realized that Withers would happily have exchanged the name of Armstrong for Townsend if half an hour earlier the vote had gone the other way. He watched his client closely, and began to fear that he was slowly being seduced by the two men from Chicago.
“Why should I be able to do something you’ve failed so lamentably to achieve in the past?” Armstrong asked, as he looked out of the bay window over a panoramic view of Manhattan.
“My client’s long-term relationship with the unions has, I fear, become unsustainable, and having the Tribune’s sister paper, as well as the group’s headquarters, based in Chicago doesn’t help matters. I’m bound to add that it’s going to take a big man to sort this one out. Someone who is willing to stand up to the trade unions the way Mr. Townsend did so successfully in Britain.”
Russell watched for Armstrong’s reaction. He couldn’t believe his client would be beguiled by such sycophantic flattery. He must surely turn round and throw them out.
He turned round. “And if I don’t buy it, what’s your alternative?”
Russell leaned forward in his chair, put his head in his hands and sighed loudly.
“We will have no choice but to close th
e paper down and allow Townsend to enjoy a monopoly in this city.”
Armstrong said nothing, but continued to stare at the two strangers, who still hadn’t taken off their coats.
“How much are you hoping to get for it?”
“We are open to offers,” said Withers.
“I’ll bet you are,” said Armstrong.
Russell willed him to make them an offer they could refuse.