Magna Theatres
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| Written by: Showmen’s Trade Review, October 15, 1955 | Date: 01.07.2008 |
 Magna, in Latin, is the feminine adjective for "big" and when the
incorporators of the Magna Theatre Corporation chose that name they
displayed a singular sense of the appropriate for a company that was to
face a task that would take big, broad-gauged effort coupled with the
perseverance of a housewife persuading the master of the house that the
living room needs new furniture and drapes.The company was born after Michael Todd, who bursts with nervous energy, had persuaded Joseph Schenck, who is calm and deliberate, that he had a revolutionary idea for motion picture photography and projection, Mr. Todd has been associated with Cinerama but had withdrawn from the project before its Broadway premiere startled the motion picture industry into new concepts. He had immediately concluded that a system which achieved a similar effect with one instead of three projectors was needed and this is the idea that he sold Schenck. |
More
in 70mm reading: Todd-AO The Todd-AO Projector Showmen’s Trade Review, October 15, 1955: Oklahoma! in Todd-AO Todd-AO Magna Theatres Todd-AO Corporation Philips Collaborated On Projector Design Todd-AO Projection and Sound Six track recording equipment All-Purpose Sound Reproduction Rodgers & Hammerstein II Six track recording equipment |
Organized in 1952 |
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| As a result,
Magna was incorporated in Delaware on Nov. 27, 1952. Schenck, a large
stockholder in the United Artists Theatre Circuit, became board chairman,
and George Skouras, president of United Artists Theatre Circuit, became
president of Magna. Magna's purpose was to finance the experimentation
necessary to develop the process now being offered as TODD-AO. By Aug, 31, 1953, $700,000 or thereabout had been spent in research and experimentation by the American Optical Company and its expert, Dr. Brian O'Brien. By that time, too, the results were sufficient to justify the enthusiasm Mike Todd had for his idea and the producing team of Richard Rodgers and Oscar Hammerstein II had seen, to the point of believing, that this was the medium in which their works were to be translated to the screen. |
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R & H Join Up |
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| R&H
agreed to
make "Oklahoma!" and to give Magna call on all their other properties which
had not already been disposed of, an t agreement which apparently turns over
to Magna, if wanted, all the R&H musicals with the exception of
"Carousel"
and "The King and I", the screen rights to which are owned by 20th
Century-Fox. With its first production set, Magna in July of 1954 sought additional financing, reportedly raising $6,000,000 through an issue of five year debentures bearing a six per cent interest rate. Up to this time Magna had been interested in two phases of its operation - developing a new process of photography and projection, and getting a production made in the TODD-AO medium. Now, with "Oklahoma!" launched, Magna enters the third phase - distribution. It now must find theatres to play "Oklahoma!", theatres which not only have capacity for crowds but whose owners are willing to invest in the retooling necessary to play the picture. Magna will make no four-wall deals, it insists. There are sound reasons for this, for four-wall deals might smack of monopoly and bring the Department of Justice around with questions and desires to look at files. Furthermore under four wall deals, Magna would have to retool the theatre. |
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Seek New Outlets |
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| So Magna is now seeking
theatres whose owners will invest in the further development of the motion
picture. The process is too new for a rigid set of standards under which
Magna will select theatres but a spokesman said that, generally speaking,
the reputation of the house, its condition, location, management, overhead
and the population upon which it can draw for an audience, will be factors.
Two more factors, he added, will govern the spread of operations: cost of
installation and the success of "Oklahoma!”. Magna, which owns 62 per cent of TODD-AO, which supplies the equipment, has now put its stock on the market. Its common recently was offered over the counter at 12½ against 11 7/8 bids while its preferred was up for officers. Officers of Magna are George Skouras, president; Ralph Newburger, secretary; and Malcolm Kingsberg, treasurer, There is no vice-president. The board consists of Chairman Joe Schenck, Malcolm Kingsberg, Frederick W. Warburg of Kuhn and Loeb (chairman of the Magna Finance committee), Michael Todd, James Landis of the United Artists theatre Circuit, Charles Seligson, an attorney, Bud Morris, another attorney, Richard Rodgers, Oscar Hammerstein II, Charles B. McCabe and James F. Burns. |
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