Zuckerman Told to Pay Magazine’s Ex-Owners

A federal court jury ruled that Atlantic Monthly magazine owner Mortimer B. Zuckerman owes the former owners virtually all of the $2.8 million he withheld from the negotiated 1980 purchase price. Ending a complicated six-year legal battle, the jury ruled that no fraud was committed and there had been no violation of the securities laws by the previous owners. Jurors did rule, however, that there was a breach of warranty in the sale--declining to specify what it was--and as penalty, deducted $500,000, less tax benefits and other costs, from the original sale price. A judge will specify payments this week.