“Publix–F. & R. Deal Is Climax of Long Parleys”

Headline: “Publix–F. & R. Deal Is Climax of Long Parleys”

Minneapolis—Closing of the Paramount deal for acquisition of Publix brings to an end negotiations for the circuit by various interests extending over a period of years. Paramount, Fox, Warners are reported to have sought purchase of the chain at various times.

Eighteen months ago, it appeared practically certain that the chain would be sold to Fox. Negotiations had been carried on over a period of weeks, reputed to have been $9,000,000, was agreed upon and William Hamm and M. L. Finkelstein went to New York to close the deal. A last minute hitch, said to have been over terms of financing the transaction, prevented consummation.

At the time the First National deal was on a year ago. Warners are understood to have made an offer for the circuit but no deal was made.

Several months ago, when Publix began its campaign to buy out holdings of its partners, the F. & R. circuit was one of the first objectives. A survey of the chain was made recently by Fred Greene, following which two weeks ago M. L. Finkelstein and Eddie Ruben came to New York, where they were joined by William Hamm, to close the deal.