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DuMont Labs Announces Reorganization and New Broadcasting Corp
Allen B DuMont Laboratories Inc announced a reorganization of its capital structure and the severance of the DuMont Television Network from the parent’s electronic, research, development and manufacturing operations. A new company, DuMont Broadcasting Corp, will be created, and class A and B common stocks reclassified into one class. Paramount Pictures holds all class B shares. A special meeting in October will seek stockholder approval. The plan also positions the new broadcasting company to own WABD New York, WITG Washington, and the DuMont Telecenter in Midtown Manhattan.
MENTIONED IN THIS ARTICLE
New York
Allen B
DuMont Laboratories Inc
DuMont Television Network
DuMont Broadcasting Corp
DuMont
Paramount Pictures Corp
Paramount Pictures
New Broadcasting Company
WABD
WITG
Washington
DuMont Telecenter
Midtown
Manhattan