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6. COMPANY OWNED PICTURES The Chairman stated that he received a.written offer from Georze J. Schaefer on behalf of himself and a group of people of
1. The sum of $1,000,000 in cash, or
2. Alternatively, an advance of $750,000 against 50% of all monies received, said advance to be recouped from the 50%
for the following pictures which are owned by the company or its subsidiary,
All Paramount pictures, consisting of three features, five Sherman Specials, | ani 13 Hopalong Cassidys. |
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All Wenger pictures, consisting of 17 features. DANGEROUS JOURNEY : 7”
™ BS OR HOT TO BE
Under the proposal, all rights would be conveyed to Mr. Schaefer and his group, including the 16 Mi rights and the television rights. Mr. Schaefer would personally. supervise the distribtion the pictures world-wide. Mr. Raftery has informed Mr. Schaefer that in the 6vent a deal is consummated, Mr. Schaefer could only distritute these pictures when the period of distritution dy us has terminated under our contract with United Artiste Prodmctions, Inc. Certain Venger pictures have participation arrangements with directors and stars tut
no discussions have been had with Mr. Schaefer senutiaing these participations. Mr. Agnew moved that.the Board mthorize Management to negotiate. Mr. Mills seconded the motion and it was carried unanimously.
7. YOICE IN THB WIND ‘ The Chairman stated that the company has an opportunity to sell the
rights for Continental Burope to Film Classics, Inc. for WOICE IN THE WIND
for $25,000. The producer has indicated Bis desire that the company accept
this offer. The tanks have taken the position that United Artists Corporation