Motion Picture Daily (Oct-Dec 1960)

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2 Motion Picture Daily Tuesday, October 18, 1961 Sale of Studio Land Voted ( Continued calling for the sale of the property to the same buyer for $56,000,000 over a 10-year period. Most of the opposition at yesterday's meeting came from shareholders who preferred the time deal to the cash deal. Secondary opposition was voiced by holders who opposed the leaseback by 20th-Fox of its studio facilities for $1,500,000 annually on a 50year lease with an option for an additional 49 years. Spyros Skouras, 20th-Fox president, explained management's reasons for preferring the new deal, pointing out tax and interest advantages made the cash deal superior. He also said that the company plans to develop another real estate holding in the Malibu area "gradually" and in about 10 years may move its studio headquarters there, subletting the present studio site in what will then be a desirable business and residential area for a profitable rental. W&K Has 10Year Plan The Webb & Knapp company, in conjunction with Aluminum Co. of America, plans to develop the Beverly Hills studio property over the next decade into a modern complex called Century City. In reply to questions, Skouras told stockholders management has recommended to the 20th-Fox board of directors that the cash proceeds from the sale of the studio property be used to retire cither all or one-half of a $21,000,000 obligation owed to from page 1 ) Metropolitan Life Insurance Co., and that the balance be used to buy back some of the company's outstanding stock on a tender basis. Skouras said no consideration has been given to payment of a cash dividend to stockholders out of the proceeds because of the tax situation which, he said, would deprive the shareholders of maximum benefit. The Webb & Knapp purchasing company previously made a $5,000,000 cash payment to 20th-Fox toward the purchase price for the property, and it is to pay the $38,000,000 balance on closing next April 17. Protests Heard Opposition to the deal was voiced by Jacob Ben Green, Sarah Martin and Nat Serber, stockholders. The latter said he didn't understand the terms and wanted it explained by a lawyer. By a voice vote, other stockholders rejected the latter request. Speaking for the proposal and congratulating management on seeing the negotiations through to a successful conclusion were Ernest Wolton, David Bell and Lewis and John Gilbert. Skouras told the meeting that five deals fell through prior to the final agreement, due mostly to inability to meet requirements set by 20thFox for the purchase of the property. He also revealed that one appraiser had valued the tract at only $27,000,000, and his estimate was rejected. Nat. Theatres Skouras Sees PERSONAL MENTION SAMUEL SCHNEIDER, president of Major Productions, will return to New York today from a four-week trip to Rome, Vienna and Paris. • Rube Jackter, Columbia Pictures vice-president and general sales manager, and Robert Ferguson, national director of advertising, publicity and exploitation, are in Philadelphia from here today for meetings with exhibitors on "The Three Worlds of Gulliver." • Philip Gerard, Universal Pictures Eastern advetrising-publicity director, is in Washington from New York today for production conferences on "The Sixth Man," currently shooting there. • Si Seadler, M-G-M Eastern advertising manager, will leave Chicago tonight for Toronto to coordinate promotion and advertising plans for "Butterfield 8." • Pinky Herman, Eastern radio-television editor of Motion Picture Daily, has become a grandfather for the second time with the birth of a girl, Anne, at Doctors Hospital on Sunday to his daughter-in-law, Mrs. Jerry Herman. Father also is a member of "The Daily" staff. • Sidney Stockton, of the M-G-M home office exchange operations department, was in Minneapolis from here. • Joseph L. Mankiewicz, writer-director for 20th Century-Fox, has returned to New York from Moscow. • Billie J. Sanders, field representative, who has served Universal and other majors on various occasions, will be married on Dec. 11 to Harlen Ellison, novelist. • "Buck" Robuck, Florida salesman for United Artists, is hospitalized in Jacksonville. Tony Curtis and his wife, Janet Leigh, will arrive in New York tomorrow from Washington. ( Continued from page 1 ) tions and prepare the way for the development of new divisions in the NT&T group. The National Theatres division will include Fox West Coast theatres Corp., Fox Inter-Mountain Theatres, Inc., Fox Midwest Theatres, Inc., and Evergreen State Amusement Corp., which will be under the executive direction of M. Spencer Leve, vicepresident in charge of theatre operations of the parent company. Cantor disclosed that Leve has been named president of the new division. National Theatres will include all of NT&T's 226 theatres operating in 16 states. Cantor left here today for New York and Miami. 'Blues' Here Nov. 3 Hal Wallis' "G.I. Blues," starring Elvis Presley, will open its New York premiere engagement on Thursday, Nov. 3, at the Victoria Theatre. ( Continued from page 1 ) first six months of the current year, which would put 39-week earnings at approximately $3,560,000. Earnings for the first three quarters last year were $2,930,532. Skouras said management is "optimistic" about fourth quarter earnings but is unable to give an accurate estimate at this time. M. Earl Ames Dies JEFFERSON, O., Oct. 17. M. Earl Ames, operator of the Ames Theatre here and a veteran of 40 years in the industry, is dead. He was the father of Howard Ames, his associate in the theatre, which will be closed temporarily. 3 Films for TV BCG Films, Inc., has purchased for television three pictures from producer Edward L. Alperson: "I Mobster," "The Restless Breed," and "Courage of Black Beauty." Steve Broidy Chairman Of 'Oscar' Show Group From THE DAILY Bureau HOLLYWOOD, Oct. 17. Stev. Broidy, president of Allied Artists has been named chairman of award; program committee for 33rd annua! "Oscar" presentation of the Academy! of Motion Picture Arts and Science! on April 17, 1961, it was announced today by Valentine Davies, Academj president. Broidy, a member of Academ; Board of Governors, will have over all responsibility for the next "Oscar show, which again will be held on j Monday night in order to have thij minimum effect on theatre attend ance. Pay-TV in U.K.; ( Continued from page 1 ) taining favorable "classifications" fo films containing violence and bru tality forecast the advent of Tele meter's pay-tv system in Englanl within the next two years, at a pre: conference at Motion Picture Ass<!|l ciation headquarters today. Although the British censor boar! seeks no control over tv, Trevelyaj expressed the hope of establishing some parity of standards with tv. Trevelyan, in differentiating V! tween his office and that of the Pre!' duction Code Authority, explained that his office, which consists of LorJ Herbert Morrison, president of th board, five examiners (three men an two women who review all films) anl himself, consider each picture on i merits. "We take into account the amouJ of integrity that lies behind each pre,: duction. We also change our vievl and our policy in line with changini public opinion, accepting situations vA films today which we might not havl accepted five years ago," he stated. Trevelyan also brought out the fa( that no theatre can exhibit a filn other than a newsreel, without thl British board's certificate or the ceil tificate of any of the local counciljf which have the privilege of ove riding the board on issuance of i'M own certificate. NEW YORK THEATRE!' , — RADIO CITY MUSIC HALL — 1 1 Rockefeller Center • Ci 6-4600 DORIS DAY • REX HARRISON IN A ROSS HUNTERARWIN PRODUCTION "MIDNIGHT LACE" A Universal-International Release In EASTMAN Color ON STAGE "BRAZIL"EXCITING. EXOTIC SPECTACU. jfc MOTION PICTURE DAILY, Martin Quigley, Editor-in-Chief and Publisher; Sherwin Kane, Editor; James D. Ivers, Managing Editor; Richard Gertner, News Editor; Herbert V. Feckffcl Advertising Manager; Gus H. Fausel, Production Manager, TELEVISION TODAY, Charles S. Aaronson, Editorial Director; Pinky Herman, Eastern Editor. Hollywood Bureai] 1 Yucca-Vine Building, Samuel D. Berns, Manager; Telephone HOllywood 7-2145; Washington, E. H. Kahn, 996 National Press Bldg., Washington, 4, D. C; London Bureau, <; j Bear St. Leicester Square, W. 2. Hope Williams Burnup, Manager; Peter Burnup, Editor; William Pay, News Editor. Correspondents in the principal capitals of the world. Motnl I Picture Daily is published daily except Saturdays, Sundays and holidays, by Quigley Publishing Company, Inc., 1270 Sixth Avenue, Rockefeller Center, New York 20, Circle jf-31C(H Cable address: "Quigpubco. New York" Martin Quigley, President; Martin Quigley, Jr., Vice-President; Theo J. Sullivan, Vice-President and Treasurer; Raymond GallaghcJ Vice-President; Leo J. Brady, Secretary. Other Quigley Publications: Motion Picture Herald, Better Theatres and Better Refreshment Merchandising, each published 13 times a V*JB ai a section of Motion Picture Herald; Television Today, published daily as part of Motion Picture Daily; Motion Picture Almanac, Television Almanac, Fame. Entered as seconM class matter Sept. 21, 1938, at the Post Office at New York, N. Y., under the act of March 3, 1879. Subscription rates per year, $6 in the Americas and $12 foreigi. Single copies, ltd II