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New York Post

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When Kalikow declared bankruptcy in 1993, the paper was temporarily managed by Steven Hoffenberg, a financier who later pleaded guilty to securities fraud; and, for two weeks, by Abe Hirschfeld, who made his fortune building parking garages. After a staff revolt against the Hoffenberg-Hirschfeld partnership—which included publication of an issue whose front page featured the iconic masthead picture of founder Alexander Hamilton with a single tear drop running down his cheek —the Post was again purchased in 1993 by Murdoch's News Corporation. This came about after numerous political officials, including Democratic governor of New York Mario Cuomo, persuaded the Federal Communications Commission to grant Murdoch a permanent waiver from the cross-ownership rules that had forced him to sell the paper five years earlier. Without that FCC ruling, the paper would have shut down. Under Murdoch's renewed direction, the paper continued its conservative editorial viewpoint.

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