Slimy publishing tycoon Donald Fletcher buys controlling interest in a respectable but financially troubled publishing house. Fletcher turns things upside down by turning the publications into scandal sheet featuring photographs of scantily clad women. Edmond Aitken, whose family once owned the publishing house, wants to oust Fletcher but Perry tells him he has no legal basis on which to do so. Not to worry. Fletcher is found murdered in his apartment but the prime suspect is Aitken's wife, Alyce, whom Fletcher had been blackmailing over lurid photos Alyce made during her younger days.
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