Business: Film Week

¶C. At Loew's Inc.'s annual meeting in Manhattan, stockholders learned that in the last two years $2,670,939 had been paid to a partnership composed of Irving Grant Thalberg, Louis B. Mayer and J. Robert Rubin, dominant officers in Metro-Goldwyn-Mayer, Loew's producing subsidiary, not as a bonus but as their share of the profits under a contract signed when M-G-M was born of a three-cornered merger. Mr. Mayer and his two partners had turned over all their assets—properties, stars, contracts, furniture, cash—taking no stock in exchange but a 20% interest in MGM's potential profits. Though the...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!