Hughes Buys
Howard Hughes and Atlas Corp.'s Floyd B. Odium, who have been dickering over Radio-Keith-Orpheum Corp., last week came to terms. Under a tentative deal, said their joint announcement, Hughes will buy Atlas Corp.'s working control (24%) of Radio-Keith-Orpheum Corp. Rumored price: about $8,000,000.
The deal would give Hughes, long an independent film-maker (Hell's Angels, The Outlaw), a top studio, plus a nationwide chain of 124 theaters. Hughes would have his hands full. Though RKO has been well in the black, the movie business has been in a slump. And Hughes last week was neck deep in trouble again with his money-losing airline, T.W.A..
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