Motion Picture Daily (Jul-Sep 1960)

4 Motion Picture Daily Friday, August 12, 1:| Col. Won't Sell Films With Reissue Value Any pictures in the post1949 library of Columbia Pictures that have theatrical reissue value will be held for that purpose when the company sells its pictures to TV, A. Schneider, president, said yesterday. "We will not play any pictures on TV that have reissue value," he declared. Schneider also said that the money realized by Columbia in selling its post-'48s to TV would be put back into theatrical production. NTA's Plans ( Continued from page 1 ) and motion picture areas that have been in abeyance. He revealed that NTA expects to close for a major film backlog in the near future. "I believe," Landau said, "that in living NTA a strong, sound financial base, N. T. & T. did what it set out to do 15 months ago. It is converting the cash advances it made to NTA into an equity position and is distributing that equity among its stockholders who then will be in a position to realize on it as NTA's operations expand and its earnings are increased." Didn't Name Companies Landau pointed out that N. T. & T. was averse to expanding in the broadcast area and, in fact, disposed of two NTA stations since it acquired control. Under the projected independent management which he and Unger will head, expansion in this area will be resumed by NTA, he said. Another important consequence will be the elimination of the burden of expense imposed on it in connection with the more than $10 millions in cash advances made to it by N. T. & T. This obligation, converted into an equity in the company, will relieve NTA of interest and related charges amounting to seven figures annually. Cites 'Father Knows Best' The N.T.&T. board of directors on Wednesday voted in Hollywood to distribute as a dividend to its stockholders 844,875 shares of NTA common stock at the rate of three shares of NTA for each 10 shares of N. T. & T. The distribution is subject to Federal Communications Commission approval. Giving effect to the distribution, NTA would have 1,627,572 shares of common outstanding, of which 620,511 shares would continue to be owned by N. T. & T. Mirisch Signs Presley HOLLYWOOD, Aug. 11. Elvis Presley has been signed by the Mirisch Company to star in "Pioneer, Go Home," a family comedy set in Florida, it was announced today by Harold J. Mirisch, president of the independent film making organization. Col. Will Sell ( Continued from page 1 ) Gems, its wholly-owned television subsidiary, into a separate operating company, part of which would be owned by the public. Columbia has an inventory of 400 films made since 1948, which is one of the largest of the libraries of the major distributors. The Columbia library is estimated to be worth about $30,000,000 in the current TV market. Schneider indicated that the post19485 of his company will be worth more per film than were the pre1949 pictures. "Our post-48s are much finer than our pre-49s," he said. Says Some Films Disappointed While Schneider did not name any of the television distribution companies with which talks are being held with respect to the library, it was learned that Screen Gems is one of the organizations involved. Explaining the plans to turn Screen Gems into a separate company, Schneider said that this will place the TV outfit in a position to do its own financing. "At present," he pointed out, "it draws on the parent company's funds." As to when Columbia might take such action, Schneider said it has been on the calendar for some time. Commenting on the financial status of .Screen Gems, the Columbia head said its annual revenues range from $35,000,000 to $40,000,000. Profits in the coming year will be better than last year, he added. Has Sold Two Stations He explained that the company has sold five years of re-runs of the popular TV series, "Father Knows Best," for a "fairly substantial" amount of income. The question has not been decided yet whether to include the income in the final quarter of the recently closed fiscal year or to spread some of the income into the new year. In any event, Schneider stated, Columbia's performance is considerably better than fiscal 1959's net profit of $151,320, which included a profit of $2,596,615 from the sale of a laboratory. For the first 39 weeks ended March 26 this year Columbia reported net profit of $534,000 compared with $275,000 a year earlier. The latter included profit from the sale of the laboratory. Stock Voted as Dividend Most of Columbia's fiscal 1960 profit derived from Screen Gems and other activities not related to the production distribution end of the business, Schneider said. He attributed this to the fact that a number of pictures for which Columbia held high hopes did not do well at the box office in the past 12 months. On the other hand, he said, studio costs have been cut and operations improved. He said the company is counting on "The Guns of Navarone," opening next March, and "Pepe," MPEA's Gervasi Leaving Industry This Month Frank Gervasi, Motion Picture Export Ass'n. representative in Rome for the past five years, plans to resign at the end of the month and reportedly will become associated with Fairbanks-Morse Co. in Europe. MPEA headquarters here said yesterday that the Gervasi resignation was not final yet and hence no successor has been named. Gervasi handled all MPEA negotiations with Italy and Spain during his tenure as South European representative and is highly regarded by export officials of the MPEA member companies. MPEA Pact ( Continued from page 1 ) bert Erlanger, MPEA representative, who is visiting Jakarta from New York. No definite developments have occurred, it was said, and Erlanger is remaining in Indonesia to continue discussions. The board considered a report on Israel submitted by S. Fred Gronich, MPEA Continental manager, now in New York onJeave. Preliminary arrangements looking to a new agreement to become effective the first of the year. Also considered were film import problems in the Burma market. MPEA's Charles Egan is en route from Pakistan to Rangoon for a first hand study of the situation, and will make a stopover in Bombay en route. MPEA directors authorized its local board in Lima, Peru, to conclude a new two-year agreement with film exchange employes there. Fox Buys New Novel "A Summer World," a new novel by Richard Dougherty has been purchased by 20th Century-Fox and has been assigned to producer Henry Weinstein as his first project for the studio. The book tells the story of a boy's summer romance the year before he is to enter college. to be released at Christmas this year, for large grosses. Both films will be shown at the outset on a reserved seat basis. Each of the two pictures has a box office potential of that of "The Bridge on the River Kwai" according to Schneider. That picture to date has grossed $28,000,000. Columbia will continue to release from 36 to 40 new pictures to theatres a year. These will include not only "blockbusters" but "entertaining pictures that do well at the box office while not necessarily costing a lot of money." As an example of the latter Schneider mentioned "The Mouse That Roared," which cost $450,000. Columbia has no plans at the moment to pay cash dividends on its common stock. "We need the cash and prefer to preserve it for the time being," Schneider said. Columbia has paid semi-annual dividends of 2 and Vz per cent on common stock in recent years. REVIEW: The Enemy General Clover Prod. — Columbia Due in part no doubt to swasfcf daubing incidents in Europe earlieil the year, and to the arrest last spi* of Adolph Eichmann, one of 6 world's most hunted war criminals, ] l tures depicting Nazi operations areji the rise again. Such a film is Enemy General," and while it c concentrate many of its scenes on tactical phase of the war as it fought in the provinces by Fre patroits, mass murder of civilians ceives its emotional due. The character of title notorietj played by John Van Dreelen, a man butcher who sentences a do civilians to be put before a Si squad following a partisan ambusl a German patrol. Among those in dered is Dany Carrel, a young Fr girl who is the fiancee of Van J son, an OSS agent working bell enemy lines. Thereafter, Johnson v< to kill Van Dreelen and he does his chance. But the general, it seems, has a change of heart. He reportedl willing to denounce the Fuehrer be spirited into England to spill man military secrets. It befalls J son and Jean-Pierre Aurnont, a French officer, to spring Van Dre from prison where he has been fenced to die for participating in plot on Hitler's life. It later devel that Van Dreelen is a double-a still working for the Germans. J son takes his revenge, shooting general in a cemetery, just a| yards away from the grave of Carrel. George Sherman directed Katzman's Clover Production, froi screenplay by Dan Pepper and 1 Picard. The acting is no more tn adequate, except for Van DreelB performance. From his cold smile I the spit-shined tip of his boot he a ruthless character. Running time, 74 minutes. SepterOi release. Saul Ostbt 'Spartacus' Trailers ( Continued from page 1 ) as much as six months in advanopt opening but cross-plug trailers areeing used in theatres affiliated withpe theatre scheduled to play "Spartac,." As an example, the Walter Rejle Theatres in New Jersey have m using more than 30 trailers since ]j« in addition to the one at the De^le Theatre in New York, where the ■& ture will have its world premier* on Oct. 6. j] Other theatres which have been sing trailers for a long period in pvance include the RKO Grand in racinnati, which has been running a trailer since late June although jw picture will not open until Dec. I the RKO Pantages in Hollywl scheduled to open "Spartacus" » 19; the Astor in Boston, Oct. 27; be Goldman in Philadelphia, Nov. [7; the Palace in Cleveland and the quire in St. Louis, Dec. 22.