as the poorly performing parts of the conglomerate began to drag down profits. As part of this, the company's interest in several cable television stations were sold off, mostly through their Jerrold division. As soon as the company's financials improved, the buying spree started anew, buying another five companies by 1975. This had turned them into a $500-million-a-year company, but left them deeply in debt.

Hickey era

Shapiro retired in 1975 and was replaced by Frank Hickey,

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