Business Development Starts

Looking to forestall the impending legal imbroglio, in early 1954 Hughes offered to buy out all of RKO's other stockholders. Convinced that the studio was sinking, Walt Disney ended his arrangement with RKO and set up his own distribution firm, Buena Vista Pictures. By the end of the year, at a cost of $23.5 million, Hughes had gained near-total control of RKO Pictures, becoming the first virtual sole owner of a studio since Hollywood's pioneer days. Virtual, but not quite actual. Floyd Odlum reemerged to block Hughes from acquiring the 95 percent ownership of RKO stock he needed to write off the company's losses against his earnings elsewhere. Hughes had reneged on his promise to give Odlum first option on buying the RKO theater chain when he divested it and was now paying the price. With negotiations between the two at a stalemate, in July 1955, Hughes turned around and sold RKO pictures to the General Tire and Rubber Company for $25 million. For Hughes, this was the effective end of a quarter-century's involvement in the movie business. Historian Betty Lasky describes Hughes's relationship with RKO as a "systematic seven-year rape."
The company also began a close working relationship with Ida Lupino. She starred in two suspense films with Robert Ryan—Nicholas Ray's On Dangerous Ground (1952, though shooting had been completed two years earlier) and Beware, My Lovely (1952), a coproduction between RKO and Lupino's company, The Filmakers. Of more historic note, Lupino was Hollywood's only female director during the period; of the five pictures The Filmakers made with RKO, Lupino directed three, including her now celebrated The Hitch-Hiker (1953). Exposing many moviegoers to Asian cinema for the first time, RKO distributed Akira Kurosawa's epochal Rashomon in the United States, sixteen months after its original 1950 Japanese release. The only smash hits released by RKO in the 1950s came out during this period, but neither was an in-house production: Goldwyn's Hans Christian Andersen (1952) was followed by Disney's Peter Pan (1953).
Along with Columbia Pictures, RKO became one of the primary homes of the screwball comedy. As film historian James Harvey describes, compared to their richer competition, the two studios were "more receptive to experiment, more tolerant of chaos on the set. It was at these two lesser 'majors'...that nearly all the preeminent screwball directors did their important films— Hawks and La Cava and McCarey and Stevens." The relatively unheralded William A. Seiter directed the studio's first significant contribution to the genre, The Richest Girl in the World (1934). The drama Of Human Bondage (1934), directed by John Cromwell, was Bette Davis's first great success. Stevens's Alice Adams and director John Ford's The Informer were each nominated for the 1935 Best Picture Oscar—the Best Director statuette won by Ford was the only one ever given for an RKO production. The Informer's star, Victor McLaglen, also took home an Academy Award; he would appear in a dozen movies for the studio over a span of two decades.
After a year and a half without a notable success, General Tire shut down production at RKO for good at the end of January 1957. The Hollywood and Culver City facilities were sold later that year for $6.15 million to Desilu Productions, owned by Desi Arnaz and Lucille Ball, who had been an RKO contract player from 1935 to 1942. Desilu would be acquired by Gulf and Western Industries in 1967 and merged into G+W's other production company, Paramount Pictures; the former RKO Hollywood studio became home to Paramount Television (now CBS Paramount Television), which it remains to this day. The renovated Culver City studio is now owned and operated as an independent production facility. Forty Acres, the Culver City backlot, was razed in the mid-1970s. List Industries, the former RKO Theatres Corp., was acquired by Glen Alden Corp. in 1959. After Glen Alden's 1967 acquisition of the Stanley Warner theater group, the two chains were merged into RKO–Stanley Warner Theatres. Cinerama purchased the exhibition circuit from Glen Alden in 1971.
In September, Hughes and his corporate president, Ned E. Depinet, sold their RKO studio stock to a Chicago-based syndicate with no experience in the movie business; the syndicate's chaotic reign lasted until February 1953, when the stock and control were reacquired by Hughes. The studio's net loss in 1952 was over $10 million, and shooting had taken place for just a single in-house production over the last five months of the year. During the turmoil, Samuel Goldwyn ended his 11-year-long distribution deal with RKO. Wald and Krasna escaped their contracts and the studio as well. The deal that brought the team to RKO had called for them to produce sixty features over five years; in just shy of half that time, they succeeded in making four. The Encino backlot shut down permanently in 1953 and the property was sold off. In November, Hughes finally fulfilled his obligations under the 1948 consent decree, divesting RKO Theatres; Albert A. List purchased the controlling interest in the business and renamed it List Industries. Hughes soon found himself the target of no less than five separate lawsuits filed by minority shareholders in RKO, accusing him of malfeasance in his dealings with the Chicago group and a wide array of acts of mismanagement. "RKO's contract list is down to three actors and 127 lawyers", quipped Dick Powell.

Business Development Starts	Business tab above	Business in Ukraine	Internet Business Consulting	COMPONENTS OF A BUSINESS PLAN
worldwide business networking	Business Consulting	Business plan for web	business	Do You Need a Business Case
Business support information	Small Business Consulting	Business Spanish in Madrid	without business liability	Business Marketing