Motion Picture News (Oct-Dec 1930)

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,\ o : c m her 1 . 1 93 0 Motion Picture News 25 Radio Purchase of Pathe Believed Set; Lee Marcus Reported as New Head Man Kennedy and Brown Leaving for Coast to Make Survey of Pathe Lot Lee Marcus, at present a vice-president of RKO Radio Pictures, is understood to have been temporarily decided upon to head Pathe if the deal now pending between the two companies is closed. Indications late Thursday were that the purchase by RKO is set. Under the terms of the deal, as now set up, RKO will assume control of Pathe, but the latter organization will be maintained as a separate organization, serving as a production "feeder" for the RKO theatre circuit. Joseph P. Kennedy is slated to leave for the Coast Saturday, as is Hiram S. Brown, president of RKO. The purpose is understood to be a final survey of the Pathe studio properties, prior to consummation of the sale. Terms and their details are being handled principally by Elisha Walker of Bancamerica-Blair, Pathe bankers, and David Sarnoff, president of RCA, which controls RKO Radio Pictures. RKO After Earnings of $2.50 a Share for 1930 Financial forecasters at RKO (Theatres) look for 1930 profits to equal $2.50 a share on the approximate 2,000.000 shares of stock outstanding. This would place the year's earnings at a minimum of $5,000,000. Although the third quarter showed a big drop under last year, high previous quarter earnings enabled the companv and subsidiaries to report profit of $3,052,571 for the quarter ended Sept. 30 after depreciation, interest and Federal taxes, but before subsidiary dividends. This compares with $1,637,900 in the first nine months of last vear. Profit for the third quarter was $886,438. Brandt-Blumenthal Suit Set for January Trial Billy Brandt's suit against A. C. Blumenthal for $600,000 which he says is due him as commission for lining up sale of New York independent theatres to Fox is slated for trial before a Nassau County court early in January. The complainant claims Blumenthal's end of the deal totaled $1,200,000 and that he is entitled to half as per an alleged agreement with Blumenthal at the time the purchase was made. The defendant denies any such agreement is in existence. Ten Lose Fox W. C. Jobs Los Angeles — Shake-ups hit the publicity and advertising department of Fox West Coast this week and when the excitement subsided the staff was minus ten members. Under a new ruling, all publicity and advertising is to emanate from the home office and from the particular sanctuary in which Frank Whitbeck reposes. But Cochrane Laughs And Laughs Wall Street, via one of its usually well-informed sleuths, sold Universal down the river again during the week. This time the story had RKO, which is reported buying every picture company under the sun, annexing the Laemmle organization, including the usual lock, stock and barrel. When R. H. Cochrane was asked about it he said he had been disturbed for some time now because Universal had been so completely ignored of late by merger hawkers. "It simply proves we do mean something after all," he commented. Then he started to laugh and was still at it when the telephone conversation ended. Leo Waiting for Fox Settlement of 5-Year Contract Broadway Outlet May Mean Another Grind for Warner Efforts are reported under way to bring to an end, by settlement, the five-year contract held by Joe Leo, former president of Fox Metropolitan Playhouses, Inc., with Fox. It is understood Harley L. Clarke will act on the matter in the next few weeks. Pending the settlement, Leo is at work on formation of an independent chain covering the eastern half of the country. He plans to concentrate his activities in New York State, Ohio, Pennsylvania and bordering territories and may attempt to tie in independent producers by assuring them outlets for their product. Paramount Buys London Chain; Changes Policy London — Paramount changed its spots this week by purchase of the four theatres operated in London suburbs by the Astoria circuit. The buy was made by Emil Wertheimer and turned over to Paramount on lease. The move is contrary to the company's generally understood plan for theatre expansion in Great Britain, which provides for building, rather than a campaign of acquisition. Discussing Equipment Of special interest to every livewire theatre manager is the discussion on innumerable angles of theatre maintenance, equipment, etc., by exhibitor members of the "Managers' Round Table Club." which this week appears as part of THE SHOWMAN section, and beginning on page 119. This special feature of the "Round Table" is becoming more popular every month when the maintenance angle of theatre operation is given particular attention bv Club members in THE SHOWMAN section. With five theatres on Broadway, the Warners are still minus sufficient outlets to supply their own and First National product with main stem showings. The accumulation of pictures awaiting release may make it necessary to convert either the Hollywood or the Warners to a grind policy to eliminate the jam. There are 13 pictures in the vaults in New York with no place to go under the present policy of spotting what the company believes to be important pictures in Times Square show windows. On the watting list of two-a-days are "Mothers Cry," "Adios" and "Sunny," turned out by First National, and "Illicit" and "Viennese Nights," which emanate from Warners. For the Winter Garden are scheduled "Woman Hungry," "Little Caesar," "Going Wild," "Kiss Me Again," "The Gorilla," "The Doorway to Hell," "River's End" and "Barber John's Boy." The holdup is largely traceable to the run of "The Dawn Patrol," which played ten weeks at the Garden when the Warners figured it would run about five. "Office Wife" followed in for another extended run. The Strand takes the weekly changes, but often follows the Warner, Hollywood and Winter Garden. The Beacon on the upper reaches of Broadway is. of course, out of the Broadway theatrical district and is. therefore, considered out of the running except as a subsequent run house. The situation will probably create some difficulties as the season progresses insofar as subsequent runs are concerned, the possibility being failure to clean up on 1930-1931 releases in the metropolitan area before the next season rolls around. Rogers, Shearer Re-Sign Hollywood — Two stars have attached their signatures to new contracts. Fox has induced Will Rogers to stay with it for two more years, his next to be "The Connecticut Yankee," and Norma Shearer has signed a new long-term contract with M-G-M.