Word: rko
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Dates: during 1950-1959
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...RKO PICTURES, originally bought by General Tire & Rubber Co.'s Teleradio subsidiary for its film backlog (TIME, Aug. 1), will swing back into full operation as a major moviemaker. After virtually shutting down under Industrialist Howard Hughes, RKO will start off with a $22.5 million budget for eleven films (among them: Cash McCall, A Farewell to Arms, The Syndicate) in the first six months of 1956 alone...
Naked Sea (RKO Radio). Any simpleton knows how to get tuna out of a can, but it takes a special sort of chucklehead to get it out of the ocean. Anybody who sees this picture, made by Allen H. Miner and Gerald Schnitzer on a West Coast tuna clipper, will soon see why. He will also see a handsome piece of movie journalism, and so many fish that when he describes the catch his wife will hurry to fix him a cup of black coffee...
Groundwork for the coup was laid six months ago, when Teleradio (subsidiary of General Tire & Rubber Co.) paid Industrialist Howard Hughes $25 million for RKO Radio Pictures and RKO's well-stocked film library (TIME, Aug. 1, 1955). In December, O'Neil got back more than half the investment by selling television and foreign rights on 740 feature-length movies, almost all RKO owns, and some 1,000 short films to Manhattan's C&C Super Corp. C&C paid $12.2 million in cash and agreed to pay $3,000,000 more over the next two years...
This should lead to still more profit: Teleradio plans to make 17 feature films this year. To cap Teleradio's triumph, the Federal Communications Commission has approved its merger with RKO to form a new company, RKO Teleradio Pictures, Inc. The result: a single company that owns the nation's biggest radio network (570 outlets), six television stations and moviemaking facilities as well...
Hollywood's sellout to TV last week moved into the multimillion-dollar bracket. Thomas F. O'Neil, president of General Teleradio and new board chairman of RKO Radio Pictures, announced a $15 million deal with C & C Super Corp., which has taken a perpetual lease on 740 RKO features and 1,000 shorts. The features include such old favorites as Gunga Din, Citizen Kane, The Hunchback of Notre Dame, Abe Lincoln in Illinois, Kitty Foyle, Stage Door, Having Wonderful Time, Once Upon a Honeymoon and eight Fred Astaire-Ginger Rogers musicals. All the films in the package...