With a $23.5 million check, Multimillionaire Howard Hughes last week rid himself of a pack of vociferously unhappy stockholders, and, for all practical purposes, became the nation's only sole owner of a major motion-picture studio. The check to RKO Pictures Corp. concluded Hughes's deal to buy all RKO assets. Two obstacles to the purchase were cleared as courts in Wilmington, Del. and Las Vegas, Nev. dismissed stockholders' suits to prevent the sale on the ground that the price was too low and the company was mismanaged.
All a stockholder needs to do now to get $6 a share for his stock...
To continue reading:
or
Log-In
