Boxoffice (Apr-Jun 1962)

Reports Persist on Odeon Circuit Sale In Canada to Atlas Telefilm, Ltd. TORONTO — Reports have persisted in Canadian financial circles of the prospective purchase of the Odeon Theatres circuit of 107 units by Atlas Telefilm, Ltd., Toronto, in a $17,000,000 deal, but no confirmation was forthcoming here. In London an official of the J. Arthur Rank Organization admitted negotiations for sale of the Canadian chain had been discussed for some time. “We will make a statement at the proper time if a conclusion is reached,” he said. Odeon of Canada is a wholly owned subsidiary of JARO. C. R. B. Salmon of Toronto, who succeeded L. W. Brockington as president of Canadian Odeon a year ago or more, decUned to comment on the report and there was silence elsewhere in local theatre circles. Leslie A. Allen is president of Atlas Telefilm, Ltd., and the vice-president is James A. Cowan. Other officers are Carl B. Fi'ench, secretary, and James Houston and Gerald Kirby, directors. Both Allen and Cowan have been identified with the film industry for a long period. Neither has confirmed or denied the report. Last November, Atlas Telefilm, which originally was a mining company under another name, purchased from Rank Organization the Canadian rights of many film features in the library of Ealing studios in England. A report placed the number of films involved at 100 while another report said “more than 50 major films.” Shares of Atlas, on sale at 90 cents 12 months ago, were heavily traded on the Toronto exchange last week. On Monday the close was $3.80. Two months ago Atlas shares reached almost $4. Atlas leases movies to television, and is reported to have the backing of a similar company. Seven Arts Productions. Technicolor 1st Quarter Earnings of $567,326 NEW YORK — Technicolor, Inc., and its wholly owned subsidiaries reported earnings for the first quarter of 1962, ending March 31, of $567,326, equal to 22 cents per share on 2,623,218 shares outstanding. This is compared to $451,479 for the first quarter of 1961, or 18 cents per share on 2,543,179 shares. Patrick J. Frawley jr., chairman of the board and chief executive officer, said sales for the first quarter were $14,796,100, compared with $11,807,564 the previous year. 'The Longest Day' to Be Roadshow Attraction New York — The decision to release Darryl F. Zanuck’s “The Longest Day” as a roadshow attraction was reached here last week in conferences between the producer and 20th Century-Fox executives. The picture will have its initial two-a-day engagements in New York, starting in July. “The Longest Day” is reported to have cost $10,000,000 to produce. UA's 1961 Net Up 15.5% Over Earnings of 1960 NEW YORK — A 15.5 per cent increase in net earnings of United Artists for the year 1961 over 1960 was reported at the weekend by Robert S. Benjamin, chairman of the board. Net earnings after provision for income taxes of $3,239,000, amounted to $4,042,000, or $2.34 per share. This compared with earnings of $3,498,000, or $2.02 per share, in 1960. Benjamin said the net earnings for 1960 were shown before a special credit arising from adjustment of prior years’ reserves. UA’s worldwide gross income for 1961 was $112,717,000, as compared with $108,531,000 in 1960. Hock Leaves Paramount For UA Advertising Post NEW YORK — Mort Hock has resigned as assistant advertising manager for Paramount Pictures to become advertising man ager for United Artists, according to Fred Goldberg, executive director of advertising, publicity and exploitation. Hock succeeds David Chasman, who was promoted to UA executive director of advertising. Val Coleman, assistant publicity manager at United Artists since 1959, has been promoted by Goldberg to the post of exploitation coordinator. He will be assistant to A1 Fisher, UA exploitation manager, and will serve as liaison between the publicity and exploitation departments in the preparation and servicing of promotional materials from the field. Hock, whose UA appointment becomes effective April 30, was account executive at Blaine Thompson Co. in charge of advertising campaigns for many of David Merrick’s Broadway productions and the American Shakespeare Festival at Stratford, Conn., for three years. While with Blaine Thompson, Hock served on the Warner Bros, account^, He joined Paramount in 1960. Coleman joined UA in 1956 as a publicity writer. Paramount Dividend NEW YORK — A quarterly dividend of 50 cents per share was declared Wednesday by Paramount’s board of directors, payable June 4 to stockholders of record on May 18. Mort Hock Val Coleman Film Industry Week In July at Seattle NEW YORK — ’The motion picture industry will have its own week at the Seattle World’s Pair, during the week of July 2. Fourteen pictures, dating back to 1916 have been selected by a poll taken of newspaper critics throughout the United States who have designated their preferences of films to be shown. It is reported that the pictures go back to “Intolerance,” produced by D. W. Griffith in 1916. Two pictures will be shown daily throughout the week. The Motion Picture Ass’n. of America has been combing the field for the desired prints, many of which can be found only in such film libraries as that of the Museum of Modern Art in New Yoi’k City. A representative of the industry, who will be the official host, will be announced shortly by the MPAA. On June 30, prior to the film week and as a sort of ballyhoo for the event, will be “Film Day” at the Seattle Fair. 'The studio publicity directoi-s have airanged to send a delegation of top film personalities to Seattle for a day of ceremonies. Meanwhile, there has been no new activity in regard to participation by the film industiT in the New York World’s Pair in 1964. A committee designated by the MPAA to look into possible participation in the Fair became inactive for various reasons. Herbert Golden, the chaii-man, had resigned from United Artists to go into the investment business. Paul Lazarus jr. left Columbia Pictures to join Samuel Bronston as vice-president and John J. O’Connor, the third member of the committee, passed away a few weeks ago. Therefore, a new committee will have to be appointed. The only project to be discussed was a “theatre of tomorrow.” Architects would comp>ete for the selected design. Republic Stockholders Vote America Corp. Acquisition NEW YORK — By an overwhelming majority, Republic Corp. stockholders voted to acquire the America Corp. at their annual meeting in the Hotel Pierre on Monday (23). The actual consummation of the deal will have to await developments stemming from a civil complaint against a merger of the two companies on the grounds that the combination would be a violation of the Clayton Anti-Tinist laws. Victor Carter, chaiiTnan of the board of Republic, said the government had claimed that the merger would give the combined companies 40 per cent of the laboratory work of the counti-y which. Carter contended, was not true. Under the proposal, America Corp. shareholders would tender three shares of America stock for one share of Republic stock. Eleven directors were reelected: namely, Carter, Gordon Greenfield, William Zeckendorf sr. and jr., Hari*y C. Mills, James King, Arthur S. Kleeman, O. W. Mmxay, Myron Cowen, John M. Fisher and William C. Warren. Four incumbent directors were Sidney P. Solow, Franklin McCarthy, Edwin Van Pelt and John J. O’Connell. 6 BOXOFFICE :: April 30, 1962