His father’s sole male heir, Walter Annenberg inherited a debt-ridden media corporation in 1942 and turned it into a multibillion-dollar empire. He founded TV Guide and Seventeen, and oversaw a network of newspapers and radio and television stations, as well as racing sheets. A generous donor to Republican candidates, Annenberg became ambassador to Britain under Richard Nixon. A formidable philanthropist, Annenberg founded two journalism schools, gave $500 million to public education and left his $1 billion fine-art collection to New York City’s Metropolitan Museum of Art. In a statement last week President George W. Bush said, “America is a better place because of his contributions and influence.”
