Word: mergers
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Dates: during 1950-1959
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ELECTRONICS MERGER between Remington Rand and Sperry Corp. will put Rand Chairman Douglas MacArthur and Sperry President Harry F. Vickers in the top spots of a new company to be called Sperry Rand. General MacArthur will become board chairman and Vickers will be president and chief executive officer. Rand President James H. Rand will be vice-chairman...
...last year). Last week Jay Hopkins put another feather in another hat. He announced that General Dynamics will diversify still more by taking over 61-year-old Stromberg-Carlson Co., which does a $65 million annual business in radio and TV sets, telephone switchboards and public-address systems. The merger will be accomplished, stockholders willing, by a share-for-share swap of stock...
...nine hotels, the house detectives have been snooping into the affair. Last week they broke right into the bridal chamber, crying that the Hilton-Statler marriage (TIME, Aug. 16) was illegal. Attorney General Brownell and his antitrust assistant, Stanley Barnes, filed a civil antitrust suit charging that the merger 1) eliminated competition, particularly for convention business, between Hilton and Statler; 2) may give Hilton a competitive advantage over other hotels; 3) "substantially increased" concentration in the hotel industry. Brownell and Barnes asked that Hilton Hotel Corp. be required to sell Statler hotels in four cities, (New York, Washington, St. Louis...
...suit came as a surprise to almost everyone in the hotel business-and especially to Conrad Hilton. The day it was filed he was in Paris, on his way back from Berlin, where he had inspected the site for a proposed new hotel. When he first announced the Statler merger, said Hilton, he got a letter from the Justice Department asking for information, which he gave. Then came another "very polite" letter asking for more information, which was supplied. Finally, a third letter arrived saying that that was all the information they wanted. Said Hilton last week: "We never heard...
...King's Row, and Cheyenne, the series allots Warner six minutes per show to plug current pictures, gives ABC a major source of weekly readymades. The on-again-off-again love affair between TV and the moviemakers is plainly on again. Simple economics served as shotgun to the merger. Television has knocked out Hollywood's staple product, the inexpensive cops-and-robbers "B" picture. Since 1950, moviemakers have turned to fewer (by 39%) and bigger movies, leaving highly paid cameramen, contract actors and a horde of stagehands in the slack time. Warner's venture was only...