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} 12. QOLOMY PICTURES, INC.
The Chairman read a letter from George Bagnall tc the effect that the Panchon Colony deal will not materialize. The Chairman stated that this situation should be clarified so that both parties understand that there is no deal in existence.
13. JON FORD
Mr. Selly read a letter from representatives of John Ford protesting the allocation which we gave to STAGECOACH of the sum received from Mr. Grinieff. They state that an offer was received of $50,000 for the re-make rights to STAGECOACH. They are also asking for tne mount of the allocation on LONG VOYAGE HOME. “ir. Kelly recommended that the infomation be given on LONG VOYAGE HOME and the Chairman stated that we might offer to sell the re-make rights, subject to the Grinieff contract, and at the same time settle any clai= for deficient allocation.
14. MSEROPOLIZAN OPERA COMPANY
the Chairman stated that he received ® proposal from a man who claims to have a deal with the Metropolitan Opera Company for two operas, tL TROVATORE and-ATMA, under which the Metropolitan supplies the talent, the drops, the msic and everything else. The pictures wuld cost approximately $250,000 each in black and white. The distritmtion rights would be for tan years and the Chairman stated that pictures of this type would mable him to contime our cultural uit which is handling HENEY V so that it would be evSITANIS to handle any other pictures of this type which we might get for distritation. Upon motion duly made, seconded and carried, it was resolved that Management be directed to proceed with these negotiations.