Word: rko
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Dates: during 1950-1959
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...young Tom O'Neil had put together a $35 million chain of five wholly owned TV stations, and a 569-radio-station network, stretching from New England to the West Coast. Now, for $25 million more, borrowed from the Chase Manhattan Bank, he bought Howard Hughes's RKO Radio Pictures Inc.,* its moviemaking facilities, distribution system, and a library of some 700 films, including such popular favorites as Gunga Din, Citizen Kane, Stage Door, Little Women, Lost Patrol, The Informer. In addition, RKO has two new films not yet released: Jet Pilot and The Conqueror, both starring...
...what was once one of Hollywood's busiest studios and is now one of its sickest. Millionaire Hughes had chopped the studio's 2,000-man payroll to 300, lost his distribution contracts for Walt Disney and Sam Goldwyn films, made fewer pictures (not a foot of RKO film has been shot this year). He haggled steadily for six days and nights with O'Neil over the sale...
...Makes Money." But the profit to Hughes may be small compared to what O'Neil hopes to make on the deal. On past performance, he may be just what RKO needs. A burly (6 ft. 4½ in., 215 Ibs.) ex-Holy Cross ('37) football end, O'Neil first learned his way around his father's tire company after college, did a four-year stint in the Navy, part of it skippering an LST in the Pacific. When he got back in 1945, he went to work for General Tire in earnest. Three years before...
HOWARD HUGHES is near agreement with Thomas O'Neil, president of General Tire's subsidiary, General Teleradio, Inc., on a deal for RKO pictures. O'Neil will pay $22 million ($13 million cash) for RKO's picture-making facilities plus its library of 700 films, use both movies and the studio in his TV business...
...movie dominates the entire Paramount studio, occupying twelve of the 18 sound stages. To film the six-minute Red Sea sequence, where the waters part and close as the children of Israel flee the Egyptians, more space was found by breaking down fences and spreading out in the adjoining RKO lot (where razed buildings will eventually be replaced...