Cinema: Big Bankrupt

Big Bankrupt

Paramount Publix Corp. with $166,000,000 in assets and 1,500 theatres on its hands, took a step that cinema financiers had been advocating for a long time when it went into equity receivership six weeks ago (TIME, Feb. 6). Last week Paramount, still a pathfinder for the industry of which it was once kingpin, took another downward step, into voluntary bankruptcy. The reason was clear. A group of Paramount bondholders, dissatisfied with Adolph Zukor and Charles D. Hilles, the amazingly contrasting pair of receivers appointed by the court, had secured an...

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