Word: rko
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Dates: during 1940-1949
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...taxes were paid. K-F's earnings were tax-free because of a carry-back). But K-F's third-quarter net of $2,058,000 was almost 74% below tax-free 1947-Divorce. A federal district court approved Howard Hughes's proposal to split RKO's picture-making organization from its theaters, create two separate companies (TIME, Nov. 8), in effect setting a pattern by which Hollywood's major companies could make their peace with antitrust (TIME, Oct. 11). RKO will sell its interest in all but 30 of its 241 partly owned theaters...
...movie industry was perforce to be cut off from its theaters, RKO's Howard Hughes wanted to make the operation as painless as possible. While the rest of the industry awaited court action on the Department of Justice's demand for a formal separation of picture-making and picture-showing (TIME, Oct. 11), Hughes last week got his RKO directors to authorize a voluntary agreement with the Government's trustbusters. This was the first break in Hollywood's united front against the Department of Justice...
Under the proposed agreement-which antitrust has tentatively approved-RKO would be split into two companies, one to make and distribute movies, one to operate RKO theaters. Both would be owned by the present stockholders (Hughes, with 24% of the outstanding common, is the biggest). Since that seemed like just another name for the same thing, the other members of the Big Five-Paramount, Loew's Inc. (M-G-M), Warner Bros., 20th Century-Fox - watched hopefully to see whether Hughes could placate the trustbusters that easily...
...Song Is Born (Samuel Goldwyn; RKO Radio) may not be entirely satisfactory to either hep cats or squares. Jazz addicts will want to take the picture home with them, to listen again & again to the jam sessions of Benny Goodman, Tommy Dorsey, Charlie Barnet, Mel Powell, Lionel Hampton and Louis Armstrong. To those who are mystified by popular music, these names will add up to much noise and little sense. A Song is designed as a starring vehicle for Danny Kaye, but he is almost drowned out in the blare...
Station West (RKO Radio) stars Dick Powell as an undercover Army officer. The setting is the Far West, perhaps 70 years ago. Jane Greer is a girl named Charlie who runs the saloon, the mining town itself, and practically everything in the neighborhood. Lieut. Powell suspects that she also runs the bandit gang which has murdered two soldiers who were guarding a gold shipment. In the course of hounding down the culprits for the Government, Dick gets beaten up and held up. In quieter moments, he listens to Burl lves sing, and passes the time of day with Charlie...