A familiar pilot was back at the controls of RKO Pictures last week. Howard Hughes, who sold control of the studio only two months ago for $7,093,940 to a group headed by Chicago Promoter Ralph Stolkin, moved back into control without putting up any cash. Noah Dietrich, Hughes's right-hand man and executive vice president of Hughes Tool Co., is expected to become RKO president. With Dietrich and two other satellites on the five-man board, Hughes has complete control, although the Stolkin group still holds the majority (29%) stock interest.
After a flood of unfavorable publicity had forced four Stolkin men...
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