SHOW BUSINESS: Rank's Retreat

The movie empire which Britain's Cinemogul J. Arthur Rank put together in 14 years was in the midst of its own austerity program. Up for sale this week at public auction will go his studios at Shepherd's Bush and Islington. Rank, who could use the money, hopes that they will be knocked down for not less than £250,000, possibly to BBC's television division. (The studios are too antiquated to interest U.S. moviemakers in England.) Of the four studios which will be left to Rank, two are shut tight and two are operating at only half their capacity. Last week,...

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