Broadcasting Telecasting (Jul-Sep 1960)

Williams, Weed secretary there, remains in the combined organization. Jack Eisele, Brown vice president and Houston manager, has been appointed director of midsouth operations and also will direct the firm's New Orleans office. NTA 'GIFT' SHARES 60% of its stock distributed by NT&T National Theatres and Television seems determined to shed the "television" part of its name. The tv portion was added in August of last year following the acquisition of National Telefilm Assoc. by National Theatres Inc. in a diversification move by the theatre chain organization. Charles L. Glett, NT&T vice president who, as head of its subsidiary National Television Investments, guided the company's expansion program into tv fields, left in June to assume similar responsibilities for H & B American Corp. (see story, page 66). WDAF-AMTV Kansas City, which Mr. Glett brought under NT&T ownership in the spring of 1958. has been sold. So has KMSP-TV Minneapolis, which came to NT&T along with NTA. A month ago. the NTA operation, which had been moved to California last fall for integration with the NT&T headquarters in Beverly Hills, was returned to New York. Last week, the NT&T board voted to distribute nearly 60% of its NTA holdings as dividends to NT&T stockholders on the basis of three shares of NTA stock for each 10 shares of NT&T. NT&T will distribute 844,875 shares of NTA in this way, will retain ownership of 620,511 shares of NTA, which will have 1,627,572 shares of common stock outstanding including about 10% which were never acquired by NT&T. Because NTA is licensee of WNTAAM-FM-TV New York, the plan to distribute its stock is subject to FCC approval, B. Gerald Cantor, NT&T president, said in announcing the plan. Accordingly, the dates of record and distribution cannot be set until the FCC acts, he commented, but assuming the action is favorable the record date will be 10 days after the date of the ruling and the distribution date some three weeks later. The NT&T board has decided not to make any further exchange ofl'er to acquire the additional common stock or warrants of NTA, Mr. Cantor said. The change in the financial structure of the two companies was brought about principally by extending and funding certain of NTA's indebteness to NT&T and accepting equity securities of NTA Who l<ept shop? If the news staff of WGYWRGB (TV) Schenectady, N.Y., seemed to be below its full complement in the first week in August, it was not due to vacations but to the far-flung assignments the local stations" reporters were covering. One newsman spent the week in Europe accompanying Secretary of Agriculture Ezra Taft Benson on a special factfinding tour of agricultural centers. A three-man news team went to New London, Conn., for three days to film two half-hour stories on nuclear submarines. On Thursday a film feature on the New York State fish hatcheries was filmed in Rome, N.Y. And on Friday a feature story on the New York State Fair was prepared in Syracuse. The weekend found two men shooting underwater film of two British ships, sunk during the French and Indian Wars, recently discovered in Lake George; another two-man team filming an interview with violinist Issac Stern in his New York City apartment, and a third team covering the 100th birthday celebration of painter Grandma Moses in Manchester, Vt. Meanwhile, back at the newsroom, all available hands were pressed into service to deliver the normal weekly quota of radio and tv newscasts. for the balance of the company's obligations. In June, NT&T reported that for the first half of the 1960 fiscal year, there has been a loss of $2,669,000, or 96 cents per share, attributable to NTA, which was charged with $5,527,000 for the period to provide for amortization of its inventory of tv programs. WSAZ interests buy more publishing stock The Huntington Publishing Co. has bought out all the stockholdings of Mr. and Mrs. Walker Long and the estate of the late Col. J. H. Long. The company publishes the Huntington (W. Va.) Herald-Dispatch and Advertiser and owns controlling interest in WSAZ-AM-TV Huntington. The purchase, which involves 37.5% of the stock of the Huntington firm, was reported to total over $2 million. It also includes real estate. William D. Birke, president of the publishing company, announced the transaction last week. WSAZ properties are 89% owned by the Huntington Publishing Co. and An ideal selling climate results when a program creates intense audience attentiveness. And, for 15 years, Suspense has tieen fulfilling this objective as it presents tales of terror uniquely suited to radio's imagery. Part of a Sunday line-up of Gunsmoke, Johnny Dollar and Have Gun, Will Travel, advertisers find their messages develop a special impact in such a sales setting. In all radio. Suspense is the kind of company you keep... BROADCASTING, August 15, 1960 69