Word: rko
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Dates: during 1950-1959
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...Armand Hammer, 59, board chairman of Mutual Broadcasting System, stepped in as president, replacing Paul Roberts, 44. Hammer, an independent oilman, formed the syndicate that bought Mutual from RKO Teleradio Pictures, Inc. last August, installed Roberts, a Los Angeles radio executive, to pull /the money-losing network into the black. While Roberts' big stress on music and news brought MBS to the break-even point, he and Hammer reportedly disagreed on the future plans. Hammer said he would remain president only until he could get someone else...
...Lucille Ball and Desi Arnaz, who in their old movie days met and fell in love at the RKO Studios, were well on their way last week to owning a big memento of their pre-TV past: the RKO lot itself. As bosses of TV's thriving Desilu Productions (I Love Lucy, Our Miss Brooks, December Bride), the couple offered about $6,000,000 for RKO's 15-stage lot in Hollywood plus its eleven-stage studios in Culver City and its valuable stock footage library. The deal-perhaps the most dramatic example...
...from 13 to 19. Then they voted in nine management nominees to fill ten empty seats (including four recent resignations). The tenth seat fell to the management's critics, who put all their cumulative votes behind Veteran Movie Executive Sam Briskin, 60, onetime production chief for Columbia and RKO. Final count: 13 directors for Vogel, six for his critics...
MUTUAL BROADCASTING, in the past a money-losing system, is being taken over from RKO Teleradio Pictures, Inc., a General Tire & Rubber Co. subsidiary, by a syndicate headed by Oilman Armand Hammer, who will become chairman, and Los Angeles Radio Executive Paul Roberts, who will become president. Group paid about $750,000 for network's good will and advertising contracts with 480 U.S., Canadian stations...
...movie studios hoped at first that TV would somehow blow over. Instead, it practically blew RKO right out of moviemaking, threatened to knock over 20th Century-Fox, which rescued itself largely by selling its old pictures...