It is probable that the Berrys would have been content to have consolidated their properties but in 1928 a new newspaper war was started and they took up the challenge. They bought the Derby Express, the Bristol Times and Mirror, the Bristol Eve ning Times, the Aberdeen Press & Journal and the Aberdeen Evening Express.
For several years the Berry family have had control of the Western Mail and Evening Express, Cardiff, and in August 1928 bought the South Wales Daily News and South Wales Echo— the other papers in Cardiff.
While the foregoing list of newspaper properties controlled by the Berry companies are a formidable combination they do not by any means complete the wide range of their interests in the publishing business. In 1927 they bought the Amalgamated Press Ltd., the business founded by the late Lord Northcliffe and his brother Lord Rothermere. It was largely in the hands of the trustees of the Northcliffe estate and the Berrys were the suc cessful bidders. It is the largest periodical business in the world and publishes over 120 weekly and monthly publications. Its capital was £3.000,000. The Berrys paid £9,000,000 and have paid dividends on the increased capital.
Lord Camrose and Sir Gomer Berry carry on their vast and varied interests in a commercial spirit without bringing their per sonalities before their many millions of readers.
Like all big combinations the Berrys proceeded to safeguard themselves regarding the supply of raw material. They acquired with the Amalgamated Press the Imperial Paper Mills and in 1927 bought the famous Edward Lloyd Paper Mills, the biggest single concern of the kind in the world, so that they became the biggest paper manufacturers in Great Britain, as well as the larg est newspaper and periodical owners.
The issued loan and share capital of the various Berry enter prises belonging to public companies was, in the summer of 1928, as follows: £ Allied Newspapers Ltd. ..... . . 8,25o,000 Allied Northern Newspapers Ltd. • . . 4,000,00o Daily Sketch and Sunday Graphic Ltd. . . . 2,584,096 Financial Times Ltd. . . . . 5,500,000 Kelly's Directories Ltd. .... . • . 1,131,372 Weldon's Publications Ltd. . . . . . . 385,000 Amalgamated Press Ltd. . . . . . . 9,200,000 Bristol Times and Mirror Ltd. . . . . . . 138,337
Aberdeen Newspapers Ltd. . . . . . . 188,310 Edward Lloyd Investment Co. Ltd. • . . . 4,500,000 The capitalization of the Cardiff newspapers and the one in Derby has not yet been published, but will probably be £1 million.
The Berry press "trusts" have not provoked the same criticism among public men or fears from journalists as has been the case with other newspaper combinations because they have not used their powers to push themselves or to run particular policies. They have maintained the character of the publications acquired, retaining local management and giving their editors considerable latitude. They have not over-centralized. So far as the reading public of the different papers are concerned they do not notice marked changes in the appearance and character of the publica tions. The centralized control is mainly commercial and finan cial. All the Berry companies are financially successful. Their progress has been steady and while their loan capital is heavy their earning capacity has up to now increased and the ordinary shares stand at a premium.
Apart from periodicals which number about 200 the Berry combinations control in London three daily newspapers and two Sunday newspapers; in the provinces, eight morning, eight eve ning, three Sunday newspapers; fourteen weekly newspapers; in Scotland two morning, two evening, and two weekly newspapers and one Sunday newspaper.
The Beaverbrook Group.—An arresting personality in the British Press is Lord Beaverbrook. He went into the newspaper business during the World War and it was not long before he showed striking gifts for the particular kind of journalism which he took up. lie has the news and the political sense highly devel oped and if he frequently annoys he always interests. The Beaverbrook group, in which Lord Rothermere has a minority interest, consists of The Daily Express, The Sunday Express, owned by London Express Newspapers, Ltd. (capital £539,439), and The Evening Standard. The policy of Lord Beaverbrook has not been to distribute dividends on the ordinary shares, but to extend plant and building, reduce capital and organise a future impregnable position.