Word: rko
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...Senate Banking & Currency Committee, but when the din died Radio (underwriters of the debentures) had more than one-half the stock and over three-quarters of the debentures, an investment eventually carried on Radio's books at $15,000,000. In 1932 NBC President Merlin Hall Aylesworth became RKO president...
Chapter 4- Despite the money Radio put into it, poor pictures, fancy leases and a mammoth funded debt got RKO eventually. The investments in subsidiaries were written down some $8,000,000 and RKO finished 1932 with a loss of $10,600,000. quickly plunged into receivership...
Chapter 5. Next year the company did better, ending 1933 with a net loss of $4,384,000. The day President Roosevelt signed the 776 amendment to the Federal Bankruptcy Act (June 1934), RKO filed under the new law. Handsome box-office returns on Katharine Hepburn, Fred Astaire and Ginger Rogers in 1934 helped RKO to end the year with a net loss of only...
Chapter 6. By the summer of 1935, however, Radio was ready to wash its hands of an unhappy stepchild. In the autumn Floyd Bostwick Odium's Atlas Corp., biggest U. S. investment trust, paid Radio $5,000,000 for half of its interest in RKO, with an option on the rest to be exercised before the end of 1937. Joining Atlas in the purchase was Lehman Bros., interested in Keith-Albee-Orpheum Corp...
from earlier days. Mr. Odium put in as RKO's president Lawyer Leo Spitz of Chicago, who had been counsel for the old Lubliner & Trinz theatre chain there, later with Balaban & Katz and finally with Paramount. Radio's Sarnoff resigned as chairman of RKO and NBC's Aylesworth was moved upstairs. RKO finished 1935 with $684,733, its first profit since...