PM was a leftist daily newspaper in New York City launched in June 1940, bankrolled by eccentric Chicago millionaire Marshall Field III.
The paper employed some radical journalists, among them some known members of the Communist Party. This led to widespread accusations that the paper was Communist-dominated, but a thesis by Anya Schiffrin concluded that the paper frequently opposed the policies of the Communist Party and got into editorial fights with the CP's paper, the Daily Worker.
The name stood for "Picture Magazine"; it borrowed many elements from weekly newsmagazines, such as many large photos and, at first, being bound with staples. It accepted no advertising in an attempt to be free of pressure from business interests. These departures from the norms of newspapering created excitement in the industry; 11,000 people applied for the 150 jobs available when the paper began.
Circulation averaged at 165,000, but the paper never managed to sell the 225,000 copies a day it would need to break even. The paper was sold in 1948 and renamed the Star, then died a year later.
PETER CAVE: A Canadian newspaper is claiming that American intelligence agencies identified two Bali resorts as terror targets one month before the Kuta bombings in October last year.
The newspaper claims it's obtained a confidential 48-page report compiled by the CIA, the FBI, the US State Department and a number of security and intelligence consultants.
The Federal Government is investigating the claims made by the newspaper, while one former intelligence officer has told PM, the language used and the information identified by the report appear to be credible examples of intelligence and analysis.
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