Word: mca
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Dates: during 1960-1969
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...came at 23 the youngest battalion commander in the Corps. Reluctantly mustered out at war's end, he began running his family's Kansas City interests (an auto agency, small loan and real-estate operations). Not until 1953, when his stepfather, Jules Stein, founder of MCA, asked Oppenheimer to buy him land and cattle as a tax shelter, did the ex-Marine find a new field to conquer...
Once the world's largest talent agency and more recently Hollywood's leading TV film producer, the Music Corp. of America has long been known in show-business circles as "The Octopus." The sobriquet still stands, even though the company (now called MCA Inc.) stopped handling talent in 1962 under threat of a Justice Department antitrust suit. Besides TV production, MCA has major interests in moviemaking (Universal Pictures), recording (Decca Records) and real estate (Universal City). Last week it agreed to link tentacles with Pittsburgh-based Westinghouse Electric Corp., itself no small fish when it comes to diversification...
Under terms of the merger, which must be approved by its stockholders, MCA will become a wholly owned subsidiary of Westinghouse. For MCA, one of the principal attractions of the $385 million stock-swap deal is Westinghouse's higher dividend. And nobody stands to benefit more than MCA's founder and chief stockholder, Chairman Jules Caesar Stein, 72, whose 27% stake in the company has a current market value of almost $90 million. By converting his MCA holdings to Westinghouse stock, Stein's annual dividend return would rise from $1,200,000 a year...
...band-booking agency, found the sideline so profitable that he decided to abandon medicine. Over the years he moved into management of talent in radio and films, succeeded in signing up most of Hollywood's top stars, including Bette Davis, Marilyn Monroe and Marlon Brando. Biggest Plums. MCA's chairman remains active in the company, still owns the seat on the New York Stock Exchange he acquired in 1936, also finds time for antique collecting and philanthropy. The man who actually runs MCA is President Lew Wasserman, 55, who was elevated to that job by Stein...
...acquisition of MCA goes through, Westinghouse will be getting a studio that accounts for 151 hours a week of network TV's prime-time output (The Virginian, It Takes a Thief and Ironside) and has turned out some of Hollywood's most profitable full-length features (Thoroughly Modern Millie, The Secret War of Harry Frigg). The biggest plums are the potential TV receipts from MCA's library of 1,954 feature films, including 700 Paramount features that Wasserman shrewdly bought up ten years ago, and the company's real estate properties, notably its $1 billion Universal...