The Exhibitor (1960)

ElectroVision Sells 12 Theatres To Stein LOS ANGELES — ElectroVision Corpora¬ tion and Fred Stein Enterprises concluded arrangements for the sale by ElectroVision of 12 of its Los Angeles hardtop theatres at a price in excess of $2,500,000, Robert L. Lippert, chairman of the board, announced. Concurrently, Lippert announced the elec¬ tion of Martin Stone as the new president of ElectroVision, succeeding Edwin F. Zabel who resigned to rejoin Aubrey Schenck in the production of independent motion pic¬ tures. Agreements have been made whereby Stone and other principals will acquire Zabel’s stock interest in the corporation. A member of the board of directors. Stone pre¬ viously served as special consultant on ac¬ quisitions and corporate development for the company. The addition of the ElectroVision theatres to Stein’s existing chain of southern California theatres makes Stein the largest independent theatre operator in southern California. ElectroVision retains its 22 theatres in north¬ ern and central California and southern Ore¬ gon, most of which are drive-ins. Included in the deal with Stein are the Hollywood Paramount, Crest, Beverly, Baldwin, Bay, Corbin, Imperial, Manchester, Rio, AAA, Southside, and Buena Park. Stein takeover will be on Nov. 2. In his initial statement, Stone said, “The sale price is in excess of our carrying cost of the assets and we will thereby show a profit. The sale will also result in an im¬ provement in the annual earnings of Elec¬ troVision. This sale is one of a series of steps that will be taken by the company to create a balance between its motion picture theatre business and the optical and ground support equipment manufacturing businesses in which it is already engaged. We are also looking at several additional diversification activities which we anticipate will increase the growth potential of ElectroVision.” Col. Income Rises NEW YORK — A. Schneider, president, Col¬ umbia Pictures, announced that the total profit from operations and sale of facilities for the year ended June 25, 1960 was $2,107,000. This compares to $151,000 the year ended June 27, 1959. The earnings per share of common stock in 1960 is $1.47 after preferred stock dividends based on the 1,287,109 shares outstanding on June 25, 1960. Income, exclusive of sale of studio facili¬ ties, was $1,905,000 for the year ended June 25, 1960, compared to a loss of $2,445,000 for the preceding year. Columbia also announced that the board declared the regular quarterly dividend of $1.061A on the $4.25 cumulative preferred stock, payable Nov. 15 to stockholders of record Nov. 1. TV Sale Injunction Denied NEW YORK — New York Supreme Court Justice Saul Streit has denied a motion by Triangle Publications to enjoin Seven Arts Productions and others from licensing the post-1948 Warner Brothers features to tele¬ vision stations in the Philadelphia area. Democratic Presidential candidate Senator John F. Kennedy recently praised the motion picture industry to Eric Johnston, president. Motion Picture Association of America, for its precedent-breaking industry-wide campaign to get out the vote and raise funds for both parties. Security Stressed In Election Campaign NEW YORK — Eric Johnston, president of the Motion Picture Association of America, stressed the security angle of the motion picture industry’s nonpartisan campaign for the 1960 elections as of key importance to the effectiveness of the entire operation. The campaign, which seeks to get out the vote and raise funds for both political parties, involves a double-envelope system which protects everyone participating in the drive. “There is practically a hundred percent as¬ surance,” Johnston said, “that neither the name of any contributor, nor his party affiliation or the amount of his contribution will be known to anyone except the mem¬ bers of his designated party who finally open the double envelopes.” The method Johnston referred to consists of a system developed at MPAA. In the col¬ lection of funds, the donor places his dona¬ tion within the contribution envelope mark¬ ed on the outside only with instructions as to how to proceed. The contributor checks the party to which he wants his contribu¬ tion to go. The only place his name appears is on a receipt, if he desires one, that is sealed inside this initial envelope with his donation. To further the security of the in¬ dividual’s identity, he is provided with a sec¬ ond and larger envelope into which the fund envelope easily fits. Both sealed envelopes will be turned over to the respective parties for counting and distribution of fund. “We have done everything in our power to make this fund campaign as secret as the secret ballot,” Johnston said. “That has been our slogan throughout. We are doing this as a public service and not a dollar is being deducted for the expenses of the campaign which are being shouldered by the motion picture companies.” New Production Team HOLLYWOOD — Stuart Millar and Law¬ rence Turman announced the formation of a new production firm, Millar-Turman Produc¬ tions. Their first feature will be “The Young Doctors” to be shot early next year in New York for United Artists release. The team also plans theatre and TV projects. Turman resigned from Kurt Frings Agency to join Millar in the new venture. Committee To Review All Proposed Scripts; First Alpha Film Seen Ready For April Theatre Play NEW YORK — The committee which will review all proposed pictures of the Alpha Production and Distribution Company, was announced by Albert M. Pickus, president of Theatre Owners of America. At the same time Pickus also disclosed that the committee was currently reviewing the script and production program for the first of the 14 pictures which Alpha an¬ nounced it was ready to produce subject to TOA’s approval. Selection of the committee and the current appraisal activity of the first picture was hailed by Budd Rogers, president and gen¬ eral sales manager of Alpha, who declared the TOA cooperation would enable Alpha to move quickly into actual production. Alpha’s first picture could go before the cameras in December, and be ready for theatrical release by April, Rogers disclosed. TOA’s committee consists of George G. Kerasotes, chairman of the board of directors and president of Kerasotes Theatres of Springfield, Ill.; M. Spencer Leve, assistant to the president and executive vice-president of National Theatres and Television Company of Los Angeles; Samuel Pinanski, honorary chairman of the board of directors and president of American Theatres of Boston; Walter Reade Jr., past TOA president, and president of Walter Reade, Inc., of Oakhurst N.J.; E. D. Martin, past TOA president, and president of Martin Theatres of Georgia, and Pickus, serving ex-officio. The Alpha Company has announced it is prepared to undertake the complete financ¬ ing, production, and distribution of quality theatrical films, with the understanding TOA will urge its members to support and play those pictures which TOA has approved. The program is one result of TOA’s efforts to find new production sources to ease the current product shortage. The TOA committee will act as a review¬ ing board on all proposed Alpha pictures, in an effort to advise and guide Alpha towards making films which exhibitors feel have the best boxoffice potential. Both TOA and Alpha have agreed to seek films which have the broadest possible appeal, and to avoid those which stress sensationalism, sex, or horror. Rogers said that the rapid appointment by Pickus of his committee insures Alpha that it can move its production program into high gear in less than 30 days after the TOA convention. He said that as a matter of policy, no pub¬ licity would be given any proposed produc¬ tion until is has been approved by the TOA committee. Announcement of the first pic¬ ture, he said, is anticipated in the very near future. Wilhelm Heads Fox Branch ALBANY — John G. Wilhelm has been ap¬ pointed manager of the 20th Century-Fox branch office here, succeeding Clayton G. Pantages, recently elevated to the new “sales cabinet,” general sales manager Glenn Norris announced. Wilhelm has been with the company since 1943. October 19, I960 MOTION PICTURE EXHIBITOR i