24 Feb.

The Supreme Court rules that Hustler magazine's satires of evangelist Jerry Falwell are constitutionally protected speech.

13 Apr.

By purchasing an American publisher, Diamandis Communications, Inc., the French book and magazine publisher Hachette S.A. becomes the largest magazine publisher in world, printing over seventy-five publications in ten countries.

Pepsico Inc. becomes the first American company to buy advertising time on Soviet television.

7 Aug.

Media mogul Rupert Murdoch buys Walter Annenberg's Triangle Publications (TV Guide, Daily Racing Form, Seventeen) for $3 billion.