Word: rko
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...cable executives were skeptical that the new network would find a niche on an already crowded cable dial, especially since it would be filled largely with old movies. But TNT, seen today in 37.5 million cable homes, has drawn an enthusiastic cult audience for its treasure trove of MGM, RKO and pre-1950 Warner Bros. movies. Film lovers, who were outraged at Turner for colorizing classics originally released in glorious black-and-white, are now also praising him for unearthing the oeuvres of Warren William, Edna May Oliver and Alfred E. Green. "The demand for classic movies was unrecognized even...
...wily Welles may have anticipated future tampering with his work. His 1939 contract with RKO Pictures stipulated that he would retain full control over the film, specifically citing its black-and-white photography. Last week the Turner Entertainment Co. gave up a possible court fight and abandoned its colorization plan. For Welles, who died in 1985, it was a victory from the grave...
HOLLYWOOD: THE GOLDEN YEARS (Arts & Entertainment) RKO, the studio where King Kong, Fred Astaire and Orson Welles once roamed, was celebrated in six beautifully crafted, impressively researched episodes. Imported from the BBC, alas...
...decision is a dramatic rebuke and potential financial disaster for RKO's parent company, Akron-based GenCorp (formerly General Tire and Rubber). Unless the ruling is overturned on appeal, the value of RKO assets -- now estimated to be worth $750 million or more -- could plummet by 90%. Reason: most of the value of a broadcasting station resides in its license. Nonetheless, GenCorp may be able to salvage some of its RKO investment. The company has agreed to sell its highly regarded KHJ-TV to the Walt Disney Co. for $217 million and three radio stations to other buyers...
Allegations of RKO improprieties arose in 1965, when investors challenged KHJ-TV's license, claiming that RKO was not broadcasting in the public interest. Later, detectives hired by rivals discovered that General Tire was maintaining slush funds for such uses as improper overseas payments and questionable campaign contributions. RKO lost its license for Boston TV station WNAC in 1980. Among the misdeeds cited by the FCC judge last week: the chain allegedly filed false and misleading financial statements between 1971 and 1975 and overcharged its advertisers on 55% of its ad invoices during a 17-month period...