Purpose of Magna Theatre Corporation & The Todd-AO Corporation
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The 70mm Newsletter
|Collected by: Thomas Hauerslev||Date: 01.07.2008|
|George P. Skouras (president of United Artists Theatre Circuit), Joseph Schenck and Michael Todd formed Magna Theatre Corporation to:|
• Develop Todd-AO process
• Raise money to produce "Oklahoma!" in Todd-AO
Magna Theatre Corporation was incorporated in Delaware on November 27, 1952 and organized on March 25, 1953. Michael Todd owned 31% of the shares. Through Magna Theatre Corporation they commissioned American Optical Company of Southbridge, Massachusetts, USA to develop the lenses, camera, screen, sound and the projector.
The Todd-AO Corporation was formed in June 1954 to be:
• "Technical agent for the process" and "To supply and service the necessary equipment".
The company was owned by Magna Theatre Corporation (75% of the shares) and American Optical Company (25% of the shares). American Optical Company owned all patents to the process, which were licensed to The Todd-AO Corporation.
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