Word: rko
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Dates: during 1950-1959
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Political Coca-Cola. About the same time that the generals were returning from the war, Idella Ruth Blackadder, then 21 and an RKO starlet, came back from an overseas stint with a U.S.O. troupe and met Marx at a party the next day. Idella, who is Ecdysiast Lili St. Cyr's half sister, married Marx. When Marx took Idella, who is two inches taller and 28 years younger, to meet General Gruenther on a European trip, Gruenther greeted Idella with: "What on earth did you marry him for?" Declared Marx: "I'm the one with the brains." Although some acquaintances...
FLOYD ODLUM is nearing agreement with Howard Hughes on a deal to merge his Atlas Corp. with Hughes's RKO Pictures Corp., the parent holding company that Hughes retained after selling off its moviemaking subsidiary, RKO Radio Pictures. Under the deal, Odium will issue one share of Atlas stock for each 5% shares of RKO. In return, he will get no plants or production, but some important assets: $15 million worth of U.S. Government bonds and a $30 million capital-loss tax carryover, which Odium can apply against profits in other ventures...
...Daniel T. O'Shea, 51, onetime movie-mogul turned CBS vice president, was picked by RKO Radio Pictures' new owners (TIME, Aug. 1) to be president, succeeding Howard Hughes's longtime friend James Grainger. Born in Manhattan, Dan O'Shea set out to be a doctor, switched to Law (Harvard, '30). With the help of New Dealer Tommy Corcoran, O'Shea got his first job with RKO, where he made such a hit with RKO Production Chief David 0. Selznick that he was called to Hollywood as resident counsel. There, O'Shea...
...sell time on local rates, did not have to split fees with the networks. So far, General Teleradio's 30 rental films have grossed $2,100,000 for Mutual, more than $600,000 profit on the overall deal. O'Neil thinks this is just a beginning. With RKO's fully equipped studio he can make still more films, both for TV and movie theaters, can either produce and distribute the pictures himself or hook up with independent producers who need space and outlets for their films -a three-way payoff...
...dissolution and reorganization of Radio-Keith-Orpheum, Hughes relinquished all interest in RKO theaters, kept control of the newly formed RKO Pictures Corp. and its subsidiaries, RKO Radio Pictures and RKO-Pathe. Though O'Neil gains RKO Radio Pictures, Hughes (with 1,262,000 shares) and Floyd Odium (with 1,250,000) still control the former parent company...