SHOW BUSINESS: The Brother Act Retires

The deal rocked Hollywood to its plaster-of-Paris foundations. Harry Warner, speaking for himself and his brothers, Al and Jack, announced that they were arranging to sell their control of Warner Bros. Pictures to a syndicate headed by San Francisco's millionaire Real Estate Operator Louis R. Lurie.* The syndicate agreed to pay the brothers about $25 million for the Warner family's 24% controlling stock interest in the $161 million film and theatrical empire—once the biggest film company in the U.S.

Hollywood was stunned, less by the size of the deal, than by the fact...

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