Motion Picture Herald (Mar-Apr 1947)

DECREE APPEAL BOXSCORE The Herald herewith presents an at-a-glance table detailing in essence the provisions of the December 3 1 final decree issued by the United States District Court for the Southern District of New York in the U. S. versus Paramount, et al, anti-trust suit and the objections to that decree being appealed by the Department of Justice and the eight defendants. The dates following the court orders are the dates on which the separate provisions become effective. Exhibitors were also displeased by the decree, particularly the competitive bidding provisions. Three exhibitor organizations, American Theatres Association, Southern California Theatre Owners and the Confederacy of Southern Associations, have appealed for permission to intervene in the suit to protest the bidding order, but it is considered more than likely that the Justice Department will oppose them. BIG FIVE LITTLE THREE * . A . COURT ORDERS DEP'T OF JUSTICE RKO, MGM 20TH-FOX, WB PARAMOUNT COLUMBIA UNITED ARTISTS UNIVERSAL 7. No admission price fixing. {April 11 object object object object 2. No general system of clearance; clearance to be set for each picture and each run. (April 11 Should be no clearances object object object object 3. No unreasonable clearance; clearance only between theatres in reasonable competition. (April 1) Should be no clearances object object object object 4. No franchises, no master agreements. {April 11 object object 5. No license to be conditional on any other sale. {July 11 object object object object 6. Competitive bidding in competitive areas, when exhibitor desires. (July I J object object object object object 7. No arbitrary refusal of the demand for any run except in competitive area in which tf ictrihfif f%r h<nc ft £ hc*stirc* t iSnrif T 1 UI3I 1 IUUI VI IIU9 VI IIICUII Ci 1 M VI II II object object object 8. Twenty per cent cancellation when films are sold before trade show. (July 1) object object object object 9. No pooling agreements by distributorexhibitors. {July 11 object 10. No operating, booking or buying combinations by distributor-exhibitors through any agent who acts for any other exhibitor, independent or affiliate. 1 April 11 11. No distributor to have less than 95% interest in any theatre. {Dec. 31, 19481* Divorcement is urged object object 12. Disposition or acquisition of any theatre interest by distributors to be under strict supervision of court with distributors required to prove that acquisition will not lessen competition. {April 11 No acquisition object object 13. Abolition of consent decree and its arbitration system; freedom to set up a new arbitration system. {April 11 object object *Adjustment of theatre ownership under this provision must be completed by December 31, 1948, two years from the effective date of the decree but the theatre owning companies must report progress in the transactions six months after the effective date and quarterly thereafter. Columbia Net Is Up to $1,560,000 Columbia Pictures this week reported profit for the 26-week period ended December 28, 1946, of $1,560,000, compared with $1,295,000 for the same period the previous year. An operating profit of $2,480,000 for the period was reported by the company as against $2,250,000 in 1945. Estimated provision for Federal taxes for the 26-week period amounted to $920,000. In 1945, Federal taxes were $955,000. The comparative earnings per share of common stock after preferred stock dividends, calculated on the increased amount of common stock which was outstanding on December 28, 2946, were $2.25 per the 1946 period; $1.92 for the 1945 period. A common dividend of 2yZ per cent is payable May 9 to stock of record April 24. RCA Nets $10,985,053; Sets 56-Cent Dividend Net earnings for Radio Corporation of America in 1946 amounted to $10,985,053, equivalent to 56.4 cents a share of common stock, according to the final report released last Thursday by Brigadier General David Sarnoff, president. This compares with $11,317,068 in 1945, when earnings, after payment of preferred dividends, were equivalent to 58.8 cents per share. Paramount Sets Dividend At a special meeting last Thursday the board of directors of Paramount Pictures, Inc., announced a regular quarterly dividend of 50 cents , per share on the outstanding common stock payable March 31, 1947, to stockholders of record March 11. GPE Votes Dividend Directors of General Precision Equipment Corporation February 25 declared a dividend of 25 cents per share on the company's capital stock, payable March 25, 1947. 20 MOTION PICTURE HERALD, MARCH 8, 1947