Editing Michael Heseltine (section)

===Further growth===
In April 1967, Heseltine persuaded BPC to inject a further £150,000 into Haymarket, increasing its ownership stake to 60%, whilst Heseltine and other directors retained smaller shareholdings. Haymarket doubled their magazine portfolio by taking over the management of twenty of BPC's magazines (many of which had been acquired by BPC in lieu of bad debts by other publishers), including ''Autosport''. However, they were now effectively a subsidiary of BPC; Heseltine, Masters and Tindall could potentially be outvoted or even sacked by the four BPC directors on the board. BPC installed a new financial controller who installed cost and cashflow management for the first time, and insisted on finally closing ''Town'' magazine at the end of 1967.<ref>Crick 1997, pp. 147–9.</ref> ''Town'' had never made a profit, but Heseltine writes that its quality was instrumental in establishing Haymarket's reputation as a publishing house.<ref name=heseltine64-66/> Around that time, ''Management Today'' became Haymarket's first big success.<ref>Michael Heseltine, ''Life in the Jungle'', Hodder & Stoughton, 2000, {{ISBN|0-340-73915-0}}, p. 78.</ref> A BPC manager recorded that Heseltine kept the initiative at board meetings by "poker-faced nit-picking" about the quality and timing of BPC's printing, rather than by employing what came to be considered his usual "I will transform the world" rhetoric.<ref>Crick 1997, p. 194.</ref><ref>Michael Heseltine, ''Life in the Jungle'', Hodder & Stoughton, 2000, {{ISBN|0-340-73915-0}}, pp. 82–9.</ref>

In 1968, there were rumours that BPC was planning to sack Heseltine.<ref>Crick 1997, p. 157.</ref> Another of the titles acquired from BPC was ''World's Press News'', largely a compilation of world press releases, which was relaunched by Masters and Robert Heller as ''[[Campaign (magazine)|Campaign]]'' in September 1968 (Heseltine initially opposed the title, thinking it sounded too political). It rapidly became standard reading in the world of advertising and Public Relations, for its gossipy reporting, often obtained by trading information, of who was gaining or losing accounts or being promoted or sacked. Within a year it had overtaken ''Advertisers Weekly'' for its volume of classified ads. Heseltine was forced, in the face of a strike, to recognise the [[National Union of Journalists]] among his staff. Josephine Hart (later a novelist and the wife of [[Maurice Saatchi]], who was Heseltine's assistant at this time), further improved the advertising sales operation by recruiting a team of largely female sales staff.<ref>Crick 1997, pp. 149–55.</ref>

As part of his ongoing campaign to buy titles off other publishers, Heseltine noticed a magazine called ''The Accountant'' which was easily paid for by vast amounts of advertising. Robert Heller produced a dummy edition of a Haymarket version, modelled on the ''Daily Telegraph'', which became ''[[Accountancy Age]]''. Following an international phone call between Heller, who was on holiday in [[Portugal]], and Heseltine who was on a political trip to [[Singapore]], the launch date was brought forward by three months on learning that a rival publication was to be launched. ''Accountancy Age'' was launched in December 1969, largely by Haymarket's business development manager [[Maurice Saatchi]], and was profitable from the start.<ref>Crick 1997, pp. 155–6.</ref>

Buoyed by the success of ''Management Today'', ''Campaign'' and ''Accountancy Age'', Haymarket made pre-tax profits of £3,000 in 1968, £136,000 in 1969 and £265,000 in 1970.<ref>Crick 1997, p. 156.</ref> Heseltine resigned as managing director of Haymarket on his promotion to principal opposition spokesman on transport in 1969, although he continued as chairman of the board until he became a minister in 1970, at which point he resigned from the board altogether, whilst remaining a major shareholder.<ref name=crick136-137/>