New Millionaires at M-G-M

When M-G-M hired Dore Schary in July 1948 to run its production, Hollywood's biggest, richest studio was slumping badly. Almost anything he did would have been an improvement. Since then, while bucking a maze of intra-studio politics, he has done plenty.

By doubling production, he cut overhead costs per picture in half. He shortened shooting schedules, reduced the average number of writers per script from 7.3 to 1.2, rooted out dead wood, brought in fresh directing and producing talent.

Schary's personal productions (Battleground, The Next Voice You Hear) proved box-office hits, and the quality of MGM's whole output improved--though not enough to qualify Schary as "a new Irving Thalberg," as his admirers like to call him.

Last week Dore Schary could take satisfaction in an impressive vote of confidence from the board of Loew's Inc., which owns MGM. To give them "greater incentive" and assure their continued service, Schary and five other Loew's executives* got options to buy 250,000 shares of company stock at a pegged price. Schary's option entitles him to 100,000 shares. In return, Production Boss Schary agreed to extend his contract (at $3,846 a week) 2 1/2 years to 1958.

*The others: Loew's Vice Presidents Benjamin Thau, Joseph Vogel, Louis K. Sidney, Charles Moskowitz, and Loew's International Corp. President Arthur M. Loew.

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