One of Hollywood's first corporate citizens was involved in a divorce action last week, but not the kind that makes the gossip columns. Stockholders of Warner Bros. Pictures voted to divorce the company's producing & distributing business from its theaters, thus becoming the last of Hollywood's Big Five (Loew's, 20th Century-Fox, RKO, Paramount) to conform to the federal court decision won by the Government's trustbusters.
Warner Bros. Pictures, Inc. will produce and distribute films; the Stanley Warner Corp. will take over the exhibition end. For every share of stock in the old Warner...
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