1^

Portland
Oklahoma
MCA May Submit Offer for Merger
With Decca, Universal 'Any Day
NEW YORK—The much discussed report
nf a passible merger of MCA. Inc., and
Decca Records and
its subsidiary. Uni-
f.-
.JSr^ JM^U
\cisal Pictures, rests
Willi a firm offer by
MCA. according to
Milton R a c k m i 1,
president of both
Decca and Universal.
And that offer may
be submitted "any
day." Rackmil told
stockholders of both
Universal and Decca,
MUton Rackmil «t separate meetings,
here Tuesday (10 1.
The following statement was made by
Rackmil at each of the meetings:
"I want to tell you of the developments
in my talks with MCA.
TALKS STARTED LAST FALL
"On and off since the late fall, conversations
were had with MCA and what began
with possible production and distribution
arrangements led into discussions
looking to a closer tieup of that company
with Decca and its subsidiary companies.
It became increasingly evident that, since
the activities of the respective companies
are not competitive, their integration
would be highly beneficial to each of the
operating companies. There would be no
overlapping. Instead, there could and
would be greater development and use of
talent and personnel in all phases of
phonograph record, motion picture and
television production and distribution.
"There are various possibilities, one ol
which is an exchange of MCA stock for
Decca stock. That is where we are now.
The next step is for MCA to submit it.s
offer. When that will take place I cannot
say. My guess is that it is imminent and
may be any day."
At both the Decca and Universal stockholders
meetings. Rackmil declined tn
elaborate further on the proposed deal,
stating that he could say nothing or make
any kind of predictions until MCA came
up with an offer. Although he was pressed
on all sides by shareholders, Rackmil
could not, and would not. comment on what
the beneficial effects might be.
ONE CRITICAL STOCKHOLDER
The one dissident note of the meeting
was rendered by a Buffalo, N.Y.. stockholder.
Aldo Sand, who was critical of
management in regard to certain phases of
operations. Sand indicated, too, that if the
MCA-Decca-Universal merger, if it should
happen, should not give equality of treatment
to Universal stockholders, he would
bring suit. When he mentioned possible
court action, Rackmil thereafter declined
to answer any questions asked by Sand.
Rackmil told the Universal shareholders
that the company's net for the first halt
of the fi.scal year would be about $3,400,000.
compared with $1,837,000 for the same
period a year ago.
In answer to a question regarding
"Spartacus," Rackmil said the pictiu-e had
earned $14,000,000 in film rentals to date
and that the sui-face had barely been
scratched. He said the film would be amortized
by the end of this year and predicted
it would be one of the biggest grossing
pictures of all time.
In regard to the sale of product to television,
Rackmil said no deal had been
concluded because no acceptable offer had
been made.
The stockholders re-elected all directors.
The late John J. O'Connor, who died three
weeks ago, was not replaced, but Rackmil
said a successor would be selected at the
next meeting of the board. Re-elected to
the board were Preston Davie, Albert A.
Garthwaite, Budd Rogers, Harold I.
Thorpe, Samuel 'Vallance and Rackmil.
Represented at the meeting were 855,819
shares of stock.
The Decca stockholders were told that
the first quarter, ended March 30, was the
most profitable in the history of the company
which earned $2,137,000, or $1.65 per
share, compared with $963,815, or 75 cents
a share, in the corresponding period of the
New Sales Cabinet for
preceding year. Rackmil said the prospects
for the year were very bright and he estimated
that it would be "Decca's biggest
year."
A proposal by Lewis and John Gilbert,
stockholders, to adopt cumulative voting
in the election of directors was voted down
by the stockholders by a vote of 842,660
shares against and 41.432 shares in favor
of the recommendation.
The Decca directors were re-elected;
namely. Leonard Schneider, Martin P
Salkin. Albert Garthwaite, Harold I.
Thorpe, Samuel "Vallance and Rackmil.
NGC Names Dick Conley
Merchandising Head
LOS ANGELES—Dick Conley was set by
National General Coi-p. to head the newly
created post of mejxhandising specialist
under which he will explore new areas of
merchandising and vending.
Conley leaves his position as city manager
at the Fox Theatre in Billings, Mont.,
to assume his new job under Robert W.
Selig, theatre operations vice-president.
Ed Doty replaces Conley in Billings, with
Dale Kutterer replacing Doty as city manager
in Pocatello, Idaho, and Ronald P.
Hamian stepping into Kutterer's post as
manager of the Academy, Provo. Utah.
Paramount
From left to right: Edmund DeBerry, Hugh Owen, Howard Minsky, Jerome
I'ickman and Tom Bridge.
NEW YORK—Major executive assignments
for Paramount Distributing Corp.
sales and administrative activities, both in
the office and in the field, have been announced
by Jerome Pickman. vice-president
and domestic general sales manager.
The changes are effective immediately.
Tom W. Bridge, recently appointed assistant
domestic general sales manager,
will assist Pickman in the overall supervision
of the domestic sales organization.
Hugh Owen will function as eastern sales
manager and Howard Minsky will serve as
western sales manager. Each will have 14
offices under his wing. Minsky also will be
responsible for Paramount's Canadian distribution,
which is handled through Affiliated
Pictures.
Edmund C. DeB3rry, who will serve as
circuit sales manager, handling the national
circuits operating out of New York,
formerly was executive assi-stant to Owen.
The branches under Owen's supervision
are: New York. Boston. Buffalo cAlbanyi.
Cincinnati, Cleveland, New Haven. Philadelphia.
Pittsburgh. Washington. Atlanta.
Charlotte, Jacksonville, Memphis and New
Orleans. Minsky will supervi.se Chicago.
Detroit, Indianapolis. Milwaukee. Minneapolis,
Dallas City), Des
I
Moines, Kan.sas City. St. Louis. Los Angeles,
Denver. Salt Lake City, San Francisco and
i
Seattle i. Jerry Limata will assist
Owen, and Jack Perley will assist Minsky.
10 BOXOFFICE April 16, 1962