“180 Houses in F. & R.-Saxe Pool Reported Completed”

Headline: “180 Houses in F. & R.-Saxe Pool Reported Completed”

Subhead: Edmund Ruben Seen Head of Alliance; Denial Deal Is Closed

Milwaukee—Pooling of interests of Saxe Amusement Enterprises and Northwest Theaters (Finkelstein & Ruben) has been consummated, despite repeated denials that the deal has not passed beyond the preliminary stage. It is expected, however, that formal announcement that the merging of the Milwaukee firm with the Minneapolis circuit will be forthcoming at the annual convention to be held July 12, 13 and 14 at Minneapolis. A number of Saxe executives are slated to attend the three day convention.

Around 180 theaters are represented in the pool, now reported closed. Saxe has around 45 theaters operating or under construction throughout Wisconsin, while F. & R. has about 135 in Minnesota, North and South Dakota and western Wisconsin. Edmund Ruben, son of I. H. Ruben, who with M. L. Finkelstein founded the Minneapolis circuit, is to be in charge of all buying and virtual head of the alliance of the two circuits, it is declared here.

Pooling of F. & R. and Saxe has been under discussion for several years, The firms for years are understood to have been operating under a gentlemen’s agreement, which prevented either from entering the territory of the other. The Saxes started in Minneapolis, but switched activities to Wisconsin under the re ported agreement. Each is First National franchise holder in its respective territory.

While Edmund Ruben asserted recently that the proposed Saxe deal was no nearer consummation than two years ago, a number of meetings on the merger have been held.