Friday, 10 July 2015
2015: IPC (International Publishing Corporation) TRIVIA.
IPC itself was created as a holding company for these diverse separate entities in 1963. Despite their common ownership, they continued to operate as individual entities, often in direct competition with each other. The business was amalgamated into six distinct divisions in 1968.
Although the Fleetway brand (named after Fleetway House in Farringdon Street: ironically prone to flooding from the underground Fleet River which ran under Fleet Street) was jettisoned from the periodicals business, it was retained as the brand name for IPC's annuals through to the 1980s.
Kings Reach Tower was opened in the early 1970s to house IPC's various magazine and comics titles. It replaced a sprawling portfolio of properties that had been acquired through various mergers and purchases. IPC eventually moved out in 2007, making way for extensive redevelopment (left) which included adding a further 11 floors to the original 30 stories.
IPC, at one time, simultaneous owned and published arch Fleet Street rivals THE DAILY MIRROR and THE SUN (formally the Daily Herald). The notoriously loss-making (sizzling soar-away) Sun was sold to Rupert Murdoch in 1969 for £800,000.
The circulation of the revitalized SUN, once considered an albatross, overtook the Daily Mirror in 1978.
MIRROR GROUP (which also included the Sunday Mirror and Sunday People) remained under IPC's ownership until it was sold to Robert Maxwell in 1984 for £113 million.
IPC's YOUTH GROUP was similarly sold to Maxwell in 1987. It was renamed Fleetway and moved out of Kings Reach Tower. It was merged with rival London Editions (owned by Egmont), creating Fleetway Editions, in 1991. Following the publisher's death in November 1991, and the subsequent financial unraveling of his business empire, Egmont took full control of the business. The Fleetway brand was eventually ditched entirely.
MIRROR GROUP was headquartered and published in a building (completed in 1963) overlooking London's Holborn Circus. The cavernous basement housed the paper's printing presses. The building was eleven stories above ground and included a helicopter pad on the roof. The building was vacated in 1994 and subsequently demolished and replaced by the current headquarters of Sainsburys.