Word: metro
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...stubborn old Nicholas ("The General") Schenck was eased aside as boss of Loew's Inc. in 1955, the world's biggest moviemaker has teetered on the brink of open corporate warfare (TIME, Nov. 12, 1956). The prize: control of Loew's $220.6 million in assets, including Metro-Goldwyn-Mayer studios. Last week the battle was joined, and the cannonading could be heard from Manhattan to Hollywood. President Joseph R. Vogel, Loew's third boss in two years, called a special stockholders' meeting for Sept. 12, charged that a dissident group on Loew...
...Cannes Film Festival made news with its film entries rather than with the spectacle of unknown starlets baring things for the photographers. The festival's French judges had mixed feelings about Metro-Goldwyn-Mayer's film version of Columnist Robert Ruark's Something of Value. Reason: Something is some affront to most Frenchmen; its story of British colonialism's bitter fruit in Kenya unhappily resembles France's current gory predicament in Algeria. M-G-M unhappily scratched this entry. Most sensational movie shown in Cannes was the Soviet Union's The Forty-First, marking...
...Arthur M. Loew, 59, stepped out as director and chairman of Loew's Inc., largest U.S. movie producer (Metro-Goldwyn-Mayer) and one of the largest theater chains, but will remain as president of Loew's International, the corporation's foreign subsidiary. By quitting before the annual stockholders' meeting Feb. 28, Loew, son of Founder Marcus Loew, hoped to head off a long-brewing proxy fight (TIME, Nov. 12) with a dissident group of stockholders led by Canadian Contractor Joseph Tomlinson, Loew's largest individual stockholder (250,000 shares). To appease the Tomlinson faction...
Died. William Addison Dwiggins, 76, top-ranking U.S. type designer, who produced the clean, legible Metro newspaper type and the Caledonia and Electra book faces, fulminated at U.S. banknote design: "It is worth its face in gold, but my God, what a face!", wrote the authoritative book, Layout in Advertising; after a stroke; in Hingham, Mass...
...Nicholas M. Schenck, 74, one of Hollywood's last tycoons, quit the board of Loew's Inc., world's biggest moviemaker (Metro-Goldwyn-Mayer studios, some 170 U.S. and foreign theaters, M-G-M records). A Russian immigrant boy who peddled papers, Nick Schenck got in at the start of the picture business, fought his way to the presidency of Loew's in 1927. Last year, as earnings fell and the threat of a stockholders' proxy fight rose, Schenck moved upstairs to board chairman, later honorary chairman...