Word: warners
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Dates: during 1950-1959
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...stringer may be a state news editor (e.g., Warner Ogden of the Knoxville News-Sentinel) or farm editor (e.g., Jack Leland of Charleston's News & Courier). Whatever his specific job, each was intensely aware of the business and farm booms still accelerating in the South. All spoke of the rising standard of living for both Negroes and whites; the continuing switchover to diversified crops, the rise in beef raising on improved grasslands, the increase of tobacco poundage on limited acreage, the tobacco industry's efforts to sell abroad and the fast growth of chemical and textile manufacturing...
...deal rocked Hollywood to its plaster-of-Paris foundations. Harry Warner, speaking for himself and his brothers, Al and Jack, announced that they were arranging to sell their control of Warner Bros. Pictures to a syndicate headed by San Francisco's millionaire Real Estate Operator Louis R. Lurie.* The syndicate agreed to pay the brothers about $25 million for the Warner family's 24% controlling stock interest in the $161 million film and theatrical empire-once the biggest film company...
Hollywood was stunned, less by the size of the deal, than by the fact that it marked the first mass abdication of a Hollywood dynasty in the face of many troubles now besetting moviemakers-television, falling box-office receipts, soaring costs. The Warners, along with other moviemen, have even more troubles. Under an antitrust decree they must divorce their movie-making from their theater operations. Faced by all this, the Warner brothers were getting out while the getting was good...
...Louis Lurie thinks he can turn the brothers' troubles into opportunities. He likes the deal chiefly because of the Warners' 436 theaters, many of them on choice big-city corner lots, which he thinks he can sell off at a fat profit. Lurie, who has previously tried his hand at moviemaking with Sol Lesser, says the syndicate will keep movie production rolling on the Warner Bros, lot, also investigate the possibility of making films for TV. The whole deal, said Lurie, was so easy that it was set up by telephone (it must still be approved...
...Communist for the FBI (Warner) bucks a longtime box-office jinx. Except for 1939's deft Ninotchka, which turned laughter loose on Communism, none of Hollywood's anti-Communist movies (e.g., The Red Menace, The Iron Curtain, The Red Danube) has fared well with the customers. The Warner Brothers, who landed in the black with 1939's Confessions of a Nazi Spy, now try to turn the same trick against the Reds...