The Exhibitor (1966)

Magna Carp. Reports 1965 loss; "Harlow" Problem Heads For Court XEAV YORK — Magna Pictures Corporation announced it will hold its animal stockholders meeting on May 31 at its New York offices. In a letter to stockholders contained in the company's annual report, president Marshall Naify noted the company’s loss for the year ended Jan. 31, 1966, of $829,193, which in¬ cluded a write-off of $139,047 for the scenario “'In This Sign,’' abandoned this year, and a special write-off of $450,000 against produc¬ tion advances for its “Harlow” picture. The preceding year showed a profit of $137,790, including net income to Magna of $275,819 from the distribution of “South Pacific.” A charge of $550,000 for the year just past was added to the allowance for po.ssible loss of the six per cent sinking fund note from the Todd-AO Corporation, said to “more accu¬ rately reflect the value of the Todd-AO Cor¬ poration.” Naify also noted that Todd-AO was com¬ pelled because of competitive factors to aban¬ don the “more lucrative royalty method and to license on a flat fee basis.” Naify pointed to the company’s budding distribution outlets in principal U.S. cities via its wholly owned subsidiary, Magna Pic¬ tures Distribution Corporation, and said this was for the purpose of “enhancing the distri¬ bution of the company’s pictures.” Naify also took note of the company’s anti¬ trust treble damage action against Paramount and Embassy, asking for, among other things, single damages in the amount of $2,100,000 to be trebled, alleging a boycott of the com¬ pany’s “Harlow” by the defendants. The proxy statement noted that Marshall Naify, Robert A. Naify, and Georgette Naify Rosenkrans, as of Dec. 31, owned each bene¬ ficially approximately 1 2 per cent of the issued and outstanding voting shares of United Artists Theatre Circuit. As of Aug. 31, 1965, other members of the Naify family were believed to own an additional 12 per cent of the UATC stock. As of May 9, 1966, UATC and one of its wholly-owned subsidiaries owned, of record and beneficially, 185,876 shares or 39.4 per cent of the common and 10,820 shares or 86.6 per cent of the preferred stock issued and outstanding of Magna Pictures Corpora¬ tion. In addition, UATC owned warrants to purchase 89,500 common shares of Magna. The Todd-AO Corporation showed a net loss of $86,202 as against a profit in the previ¬ ous year of $60,860. Nominated for the Magna board are N. R. Caine, Joseph Cates, Joseph C. Emerson, A. H. Frisch, S. M. Flassanein, Marshall Naify, Rob¬ ert A. Naify, Irving Palace, Joseph M. Seider, Tirana Skouras, and Alan Steuer, with Arnold Childhouse nominated to represent the pre¬ ferred shares. N.Y.U. Honors Kramer NEW YORK — The Alumni Association of New York University bestowed its highest honor on producer-director Stanley Kramer, naming him one of the year’s outstanding alumni. The award, voted yearly to those who have brought credit to the college and community, was presented at a dinner at the yVmericana Hotel, attended by James M. Hester, presi¬ dent of the University, and distinguished pro¬ fessors and teachers of the college. New Trends Will Fight Interference By Distribs NEW YORK — Edward Anthony Myerberg, president, New Trends Associates, producers and distributors of children’s films, has appealed to exhibitors via trade paper ads to contact them immediately if they encounter any interference by dis¬ tributors in their playing of children’s matinee films. Children’s films are gener¬ ally scheduled during weekend and holiday matinees. At a recent press conference, Myerberg and Leo F. Samuels, vice-president and sales manager, accused the major Holly¬ wood and New York film companies of virtually fostering sex pictures on children by making it impossible to get playing dates for their films, and acting in restraint of trade. Their attorney, Theodore R. Kupferman, also spoke at the press con¬ ference. New NCC Post For Polone LOS ANGELES — Gerald L. Polone has been named an assistant vice-president of National General Gorporation, it was an¬ nounced by Eugene V. Klein, chairman of the board and president. Since joining NGC in September, 1964, Polone has been director of the company’s real estate development program, with par¬ ticular responsibilities in selection of theatre sites relative to the organization’s nationwide expansion program. He also serves on the loan committee of the Columbia Savings and Loan Association, an NGC subsidiary. Weeki Wachee Naturalist On Tour For "Born Free" JACKSONVILLE— John Hamlet, noted naturalist who is a staff member at Florida State Threatres’ Weeki Wachee, is scheduled to go on tour during June to publicize many FST openings of “Born Free.” Hamlet will travel in a Land Rover and will be accom¬ panied by two lion cubs from the Fairyland Park Children’s Zoo in Tampa. A team of local FST theatre managers and Robert Fleekin, Tom Sawyer, and Vernon Carr of the FST home office have adopted “Born Free” as a special project picture and have completed an advance exploitation pro¬ gram to give it maximum public exposure, in¬ cluding cooperation from schools, city and county recreation departments, Boys’ Clubs, Humane Society, libraries, zoo officials, Boy and Girl Scouts, and other civic groups. When Hamlet arrives in Jacksonville on June 23, he will be presented over television and radio outlets and will visit all major shop¬ ping centers in the area, children’s hospitals, and numerous city and county playgrounds. Thousands of “Born Free” advertising hand¬ bills will be distributed by theatre u.shers wherever Hamlet makes his public appear¬ ances. The FST theatre managers who assisted in developing and completing the “Born Free” advance promotion campaign for its first-run playdates at the suburban Edgewood were Art Castner, Edgewood manager; Marty Shearn, Center; Walt Meier, Florida; Albert Hildreth, Empress; and Robert Cornwall, Imperial. Levine To Tors Films CULVER CITY, CALIF.— Ernest Levine, C.P.A., has joined Ivan Tors Films, Inc., as treasurer of the company, it is announced by president Ivan Tors. Levine succeeds Erwin Tors, recently elected vice-president and gen¬ eral manager and now abroad in behalf of company interests. On the eve of starting his new production, "A Man For All Seasons," at Shepperton Studios, London, director Fred Zinnemann cut a birthday cake surrounded by key members of his company, left to fight, Nigel Davenport, who plays the Duke of Norfolk; author of the play and screenplay Robert Bolt; execu¬ tive producer William N. Graf; and Paul Scofield, who plays the title role of Sir Thomas MofC in the Columbia release. 12 MOTION PICTURE EXHIBITOR May 25, 1966