Canadian Film Weekly (May 29, 1970)

Page 2 CANADIAN FILM WEEKLY May 29, 1970 20th CENTURY FOX A dramatic reversal in the operational results of 20th Century-Fox Film Corp. was reported by Darryl F. Zanuck, chairman of the board and chief executive officer of the company, at the annual stockholders’ recent meeting in Los Angeles. Net earnings for the first quarter after taxes amounted to $967,000 entirely based on operational income compared to a fourth quarter net loss of $3,271,000 in 1969. The net earnings for the first three months of 1970 amounted to $.11 per share based on 8,561,815 shares, the average number of shares outstanding during the period. This compares with net earnings in the first three months of 1969 of $2,464,000 or $.31 per share based on 8,006,108 shares outstanding during that period. Chairman Zanuck credited this upturn to two factors — first, to the outstanding business done by such films currently in release as Butch Cassidy and the Sundance Kid, M*A*S*H, The Prime of Miss Jean Brodie and the two roadshows Hello, Dolly! and Patton, and second, to the initial effects of the. organizational and operational streamlining instituted by management. Richard D. Zanuck, president, revealed that the company was anticipating the largest grossing summer in its history. In addition to the continuing first-run engagements of Butch Cassidy and M*A*S*H, neither one of which shows any signs of letting up, Zanuck stated, “Our three new releases for the summer— ‘Beneath the Planet of the Apes’, Russ Meyer’s ‘Beyond the Valley of the Dolls’ and ‘Myra Breckinridge’ — represent the strongest line-up of pre-sold properties that our company has ever had for prime playing time in the high-grossing summer months. “In addition,” he continued, Changes in personnel announced by T.C.L. J. J. Fitzgibbons, Jr., president of Theatre Confections Ltd. has announced the following changes in company personnel, effective June Douglas Lowes, supervisor, Montreal to Moncton, N.B. as T.C.L. branch manager for the Atlantic Provinces; John Dymont, branch manager, Moncton to head of purchasing department, T.C.L. Toronto; Robert Gardner, head of purchasing to manager of drive-in concessions and direct sales department, T.C.L. Toronto. company reports “ “Hello, Dolly!’ and ‘Patton’, both highly successfuly in roadshow release, will go into broad reserved performance release this summer, which should add immeasurably to our gross.” MCA Earnings of MCA Inc. for the first quarter of 1970 were announced by Lew R. Wasserman, president. Unaudited consolidated net income for the three months ending March 31, 1970 amounted to $3,021,000 or 37 cents per share on 8,184,067 average number of shares of common stock outstanding during the period. Gross revenues for the quarter totaled $72,814,000. For the corresponding three months in 1969, consolidated net income was $4,533,000 or 57 cents per share on 7,951,869 average number of shares of common stock outstanding. Gross revenues were $66,631,000 for the first quarter of 1969. Wasserman stated that revenues from theatrical motion pictures to date are very encouraging. Airport, in particular, is showing exception al box office strength. Anne Of The Thousand Days also is performing well. These two pictures are playing in a limited number of theatres during the first half of 1970 so that their effect on revenues and earnings will be reflected largely in the last half of the year. COLUMBIA Columbia Pictures Industries, Inc., has reported that the company’s sales and earnings for the nine month period ended March 28, 1970 were $182,800,000 and $5,345,000 respectively, as compared to $155,296,000 and $4,721,000 for the comparable period of fiscal 1969. Per share earnings reached $.90 per common share. as compared to $.83 for the corresponding period last year. A. Schneider, chairman of the board, said that substantially higher interest expense and the absence of a sale of feature films to network television, as was realized in the previous year, had mitigated against an even better performance. Schneider said that Columbia is in its strongest financial position, with cash resources at the highest point. in its history. from anywhere you sit... from the whispered proposition to the creak of a stair, with the superior quality of General Sound Hi-Fi Stereo Equipment, sensitized to meet modern technological sound tracks. Service when you want it — fast. Day or night. Canada’s Theatre Supply House General Sound AND THEATRE EQUIPMENT LIMITED Branches Across Canada LEN HERBERMAN David Griesdorf, executive vice-president of International Film Distributors Ltd., announces the promotion of Len Herberman to the position of general sales manager, effective immediately. Herberman came to IFD a year ago from Montreal as assistant to Morris _ Diamond, who has now taken on a new appointment as consultant to IFD. Herberman has had broad experience in Canadian distribution, having pre-. viously served as manager in Saint John, Winnipeg, Calgary and Montreal. Film Festival awards clean sweep for NFB Canada’s National Film Board topped all producers at this year’s American Film Festival in New York with the best film of all entries, as well as seven other first prizes and a second. The Emily Award, presented each year to the top film of the festival, was won by Norman McLaren’s Pas De Deux, which was also judged the winner in the film as art category. Pas De Deux has — now won eleven awards in international competition. Each year, over a thousand films from around the world compete in this the world’s largest and most comprehensive festival of 16mm films. Now in its twelfth year, the American Film Festival is sponsored by the Educational Film Library Association. Vol. 35, No. 18 May 29, 1970 Editor: ED HOCURA CANADIAN FILM WEEKLY 175 Bloor St. East, Toronto 5, Ont. Published by Film Publications of Canada, Ltd. 175 Bloor St. East, Toronto 5, Ontario Canada ¢ Phone 924-1757 Price $7.50 per year ROO A aA is a RT SSE IC EHTS OEE ROIS SSE