Word: loews
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...past year, prodded by the Department of Justice, Radio-Keith-Orpheum Corp. and Paramount Pictures, Inc. have agreed to split their production-distribution operations and theater-owning functions into independent halves (TIME, May 17, 1948 et seq.). But the three other members of filmdom's "Big Five"-Loew's Inc., 20th Century-Fox Film Corp. and Warner Bros. Pictures, Inc.-decided to continue fighting Justice's antimonopoly suit. Although they knew they would probably have to yield in the end, the longer they could stave off the splitup the more money they might make from continuing...
Louis B. Mayer, party of the first part in many a six-figure contract, had his own option picked up by Loew's, Inc. Presi dent Nicholas M. Schenck, who signed him up to head Loew's-owned Metro-Goldwyn-Mayer for a few more years...
...began in 1924 because Marcus Loew's Eastern theaters needed more films. Neither Loew's own studio, Metro Pictures, nor his friend, Producer Louis B. Mayer, could keep up with the demand. The big chance came when another fledgling named Sam Goldwyn decided to unload his Culver City studio. Loew's Inc. put up $5,000,000 worth of stock for Goldwyn's lot and launched it, under Mayer's supervision, as Metro-Goldwyn-Mayer...
...mediocre entertainment, they were well insured at the box office with such names as Marie Dressier, Wallace Beery, Greta Garbo, Norma Shearer, Joan Crawford and Clark Gable. During the '30's, while older film empires tottered, M-G-M saw to it that its parent, Loew's Inc., never skipped a dividend. For his pains, L.B. got 10% of the studio profits-a deal that made him a longtime fixture atop the annual list of U.S. big income-earners. (He now gets 7%.) He has earned his pay not so much for making good pictures...
...will go to the theater company. The movie company will get the Los Angeles station (KTLA), and the controlling interest in Allen B. Du Mont Laboratories, Inc. With Paramount and RKO (TIME, Nov. 8) out of the fight, the Justice Department hoped that the rest of the "Big Five" (Loew's, Warner Bros, and 20th Century-Fox) would also come to terms...