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18 MONEY BEHIND THE SCREEN
had contracted for the production of eight feature films for Columbia at a total cost of £500,000. The first film produced by Soskin was released through United Artists.
14. Changes in the control and the mutual relations between the two main English renters which have occupied the centre ofpubhc attention in recent months are by no means clear in their final results at the present time. Since 1928, the American Fox organisation has had a major financial interest in, though not control of, the holding company controUing Gaumont-British, and the move initiated by Fox and its close ally, Loew's Inc. (controUing M.G.M.) to obtain virtual control of Gaumont British Picture Corporation, Ltd., would have resulted in a powerful reinforcement of the tendency for Anglo-American production-distribution alliances which we have discussed (although in this instance, the preponderance of American interests would probably have been greater than in the other groups indicated.) At present this arrangement appears to have been dropped and to have been replaced by a close alliance between Gaumont British Picture Corporation, Ltd., and its British rival. Associated British Picture Corporation. The latter has already acquired a substantial block of shares in the Gaumont British Picture Corporation holding company and claims to possess an option on the controlling block. Control is still, however, retained by the Ostrers, and 20tli Century Fox similarly have retained their share holdings. The ultimate solution of this triangular tussle remains to be seen. While present appearances suggest a closer collaboration between the two EngUsh concerns at the expense of the American interests, the opposition of 20th Century-Fox to the transfer of control makes it not improbable that the ultimate result may still contain some surprises as far as AngloAmerican relations are concerned. The recent acquisition of a block of shares in Loew's Inc. formerly owned by the late I. Thalberg, by an English financial group (about 30,000 shares, valued approximately at £420,000) is stated to be entirely unconnected with this situation.
15. It is very probable that the relationship of the great renting concerns to the exhibition sphere will undergo a further marked change largely as a result of the developments indicated in paragraphs 11 and 14. It is reported in the trade press {Kinematogmph Weekly, 29.10.36) that representatives of an American renting firm are already attempting to negotiate with independent circuits for the acquisition of control. Moreover, it should be noted that Paramount w}io already control a small circuit of super-cinemas, have joint management arrangements for all theatrical matters, excluding film bookings, with one of the largest independent circuits, the Union group of some 250 cinemas. Although the latter retain their financial and also film booking independence under this arrangement it would be