Word: skiatron
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...Hollywood's own version of the wheeler-dealer, who in the early 1940s turned nearly bankrupt Universal Pictures into a $7,000,000-a-year profitmaker by luring away stars from other studios, made a further killing by selling old movies to TV, later gained control of Skiatron, which pioneered pay TV, and finally went international in 1948 by persuading the newborn Republic of Indonesia to make him its U.S. trade broker, a deal involving $150 million a year before it collapsed in 1950; of a heart attack; in Manhattan...
...specialists to set up an "underground business combine" that rigged markets in certain stocks, made the Res an estimated profit of $3,000,000 between 1954 and 1960. The Res would first arrange to buy stock at bargain prices from hard-pressed insiders in such companies as Thompson-Starrett, Skiatron Electronics. Silver Creek Precision Corp. and United Pacific Aluminum Corp. To avoid the SEC regulations that any company that wishes to sell stock publicly must register with the commission, the Res then funneled the stock into dummy accounts, some of them set up abroad. To spur demand for the stock...
...elect's father, Joseph P. Kennedy; he succeeded the elder Kennedy as chairman of the SEC in 1935, later worked for him as a special assistant and co-authored a book with him. Now a member of a New York law firm, he has several clients, e.g., the Skiatron pay-TV system, with cases pending before the regulatory agencies. He said he did not believe his interest in cases before Government agencies would affect his report. Last week Landis was in Miami at the annual convention of the Air Line Pilots Association as an active candidate for the association...
Nevertheless, the race centers on three major companies: Manhattan's Skiatron Electronics and Television Corp., Los Angeles' International Telemeter Corp. (88% owned by Paramount Pictures), Chicago's Zenith Radio Corp.. which pioneered toll TV in 1947. All three transmit scrambled TV pictures, and the viewer decodes them by dropping coins into a box affixed to the set or by slipping a billing card into a slot...
...many local stations will start out with the toll systems that go out on wires via telephone poles, and thus presumably elude control by FCC, which holds jurisdiction only over the airwaves. Pay TVmen are enthusiastic about the success of a cable test in Bartlesville, Okla. (TIME, Sept. 16). Skiatron has 60 legmen mapping every house in Los Angeles for wiring, and Telemeter expects to start wire TV in Los Angeles "in the very near future." If the wired systems pack in the viewers, pay TV may grow up in a hurry...