Word: rko
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...less than two hours last week, RKO stockholders voted overwhelmingly to accept Howard Hughes's offer to buy all of their stock (TIME, Feb. 22). Proxies for 2,095,996 shares (besides the 1,262,120 shares owned by Hughes) were sent in to the special meeting and 2,022,769 voted in favor of the plan, only 73,227 against. The only barrier remaining was a court suit filed by two stockholders who contend that Hughes is getting too big a bargain in buying the rest of the RKO stock for $15,916,758, if all the stockholders...
Dangerous Mission (RKO Radio) is a misguided tour of Glacier National Park in which the public inspects such unnatural phenomena as a studio glacier, a special-effects forest fire, an avalanche in miniature and Victor Mature. Actor Mature is a policeman from New York who has gone west to put the arm on a murder-case witness (Piper Laurie). One look at Piper and he offers both arms...
Many a Winchell tip is simply picked off the news wire, is "exclusive" only because no major Sunday afternoon papers are published in the U.S. Thus when Howard Hughes announced his offer to buy all RKO stock on a Saturday afternoon (TIME, Feb. 15), Winchell broadcast the news which dailies carried Monday morning. Next day the stock rose 2¾ points, thanks to Hughes's offer-not to Winchell's tip. Last week Winchell breathlessly peddled another hot market tip: "Another tremendous oil strike 60 miles south of Ely, Nevada." But the "news" had no effect...
...Hughes Aircraft (TIME, Oct. 5), announced that he intends to retire "as soon as I can clean up the necessary details," probably within the next six months. Explained Dietrich, who went to work for Hughes in 1924 as his personal assistant: "I'm tired. Between the troubles at RKO and Hughes Aircraft and the troubles in my own domestic life [he is seeking a divorce], I've had it. All I want to do is go out and hunt and fish...
...board of directors of RKO met last week to take up the surprising offer of Multimillionaire Howard Hughes to buy out the corporation's stockholders. With Hughes and Noah Dietrich. No. 2 man in the Hughes empire, absent, the board voted to accept the offer, called a special meeting of stockholders to vote on the proposal March 18, about two weeks before the deadline set by Hughes...