The Press: Musical Chairs

After sinking an estimated $25 million into his newspaper ventures, Marshall Field III had been loosening his grip on the editorial direction of his surviving daily, the tabloid Chicago Sun-Times (circ. over 610,000 daily). Last fall, though he kept the title of publisher, Field gave 34-year-old Marshall Field Jr. a lift up the ladder; he gave him day-to-day command of the news room to be shared with 50-year-old Managing Editor Milburn (“Pete”) Akers (TIME, Nov. 14). This week, the elder Field made the transfer of power complete. He gave up his title of publisher, though he remained on the masthead as president, and made Marsh Field editor & publisher of the newspaper which he will some day own.

The changes were made at the suggestion of Editor Richard J. Finnegan, 66, onetime publisher of the Times, who told Field that Marsh was learning the newspaper business so fast that Finnegan could step into semi-retirement as “consulting editor.” Field Sr. not only agreed but decided to step out himself. In the game of musical chairs, young Field’s team of deputies moved into power in name as well as fact. Akers took on the title of executive editor, and into his old job as managing editor stepped 39-year-old Thomas F. Reynolds, able, longtime Sun-Times Washington bureau chief.