269:. While successful, the company was only a minor automotive supplier. In the 1940s, NAF purchased the Montrose Chemical Company of San Francisco, but it was still centered on the auto industry. In 1956, the company suffered a major loss of $ 1 million against sales of $ 46 million. Paul V. Shields, a senior partner of Shields & Company, a Wall Street investment firm, acquired the company as he saw that NAF was overdependent on the auto industry but had growth potential. Shields trimmed NAF's product line and diversified the company into oil and gas operations, television and radio broadcasting. With this diverse portfolio, the company was renamed the NAFI Corporation in 1959. This brought a record profit of $ 1 million against lowered sales with assets of $ 10 million. NAF and
407:), and which foreign companies are prohibited from owning more than 25 percent of a television station. In 1994, BHC and Paramount Television announced the formation of the fifth television network United Paramount Network (UPN). The network, targeted toward the young male demographic group, premiered in early 1995 and offered four hours of original prime-time programming per week. The following year original programming was increased to six hours per week. As part of the agreement, Chris-Craft owned 100 percent of UPN, with Paramount having the option to acquire an equal share through January 15, 1997. In 1997, Viacom acquired a 50 percent interest in UPN for $ 160 million.
438:
Chris-Craft's original agreement, two options for exiting the partnership had been determined—buying out the other partner or paying for what the partner had invested up to that date and providing funds for the future operation of UPN. Either option would cost Viacom substantial sums of money. Industry analysts agreed that Chris-Craft could emerge the winner and offered other possible scenarios: that Viacom might offer Chris-Craft some of its stations in exchange for severing the partnership or that Chris-Craft might sell Viacom's share to another company.
328:. This dramatic new design was unveiled at the New York City National Boat show, perched at the top of an escalator on a giant, castered cradle. This first Commander was a 38' express hardtop with a 13' beam. The line of Commanders soon grew to include sizes ranging from 19' to 60'—all "styled in fiberglass."
441:
However after the Viacom-CBS merger was completed in 2000, a lawsuit was filed by BHC against the Viacom-CBS merger as BHC saw this as a breach of the UPN partnership. BHC lost the suit and sold its remaining ownership in UPN to Viacom for $ 5 million. Shortly thereafter, Chris-Craft announced that
437:
In 1999, Viacom announced plans to merge with CBS Corporation. Because of a regulation upheld by the FCC years ago, prohibiting companies from owning two broadcast networks. Viacom's announcement raised questions regarding the future of Chris-Craft and Viacom's joint ownership of UPN. In Viacom and
442:
it was getting out of broadcasting after losing $ 500 million on UPN, the possibility of UPN shutting down or having their affiliation pulled. Many industry observers thought Viacom would end up getting the stations, but Viacom's bid lost out to News
Corporation's
304:
was an independent company until it was acquired by
Shields & Company's NAFI Corporation in 1960 and merged with NAFI. They renamed the merged company in 1962 as Chris-Craft Industries, Incorporated. In 1962, the company acquired the
860:
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National
Automotive Fibers (NAF) was formed in Detroit in 1928 as a manufacturer of upholstery, carpeting, interior trim and plastic products for the automobile companies
633:
228:, was a publicly held American corporation that was traded on the New York and Pacific Stock Exchanges. In 1962, the company adopted the name of one of its acquisitions,
403:
in the New York City area, that MCA was forced to spin off the station due to the acquisition of MCA by
Japanese multinational conglomerate Matsushita Electric (now
396:
Chris-Craft
Industries sold its boat division to Murray Industries in 1981. Chris-Craft Industries retained the Chris-Craft trademark and licensed it to Murray.
385:
Between the 1960s and 1980s, Chris-Craft lost market share as competitors with more innovative designs and less expensive manufacturing techniques, such as
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790:
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After Chris-Craft sold its boat division, it focused solely on its broadcast division. In 1992, BHC acquired
Pinelands, an MCA spin off company that owned
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752:
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236:-hulled powerboats in the 1920s through the 1950s. Chris-Craft Industries also went into broadcasting, owning television stations via its subsidiary
855:
845:
19:
This article is about the former manufacturing and broadcasting company. For the original company founded in the late 19th century, see
534:
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805:
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625:
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590:
362:, both placed within BHC's Chris-Craft Television, Inc., subsidiary. That same year, Chris-Craft purchased a share of
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In 1968, Baldwin-Montrose
Chemical Co., Inc., took a controlling interest in Chris-Craft and installed its chairman,
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660:. History of the American Cinema. Vol. 9. Berkeley: University of California Press. p. 311.
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hulls, came on the scene. Chris-Craft ended production of its last mahogany-hulled boat, the
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but failed. In 1981, the 20th
Century Fox share, then at 20 percent, was traded to
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138:
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Lost
Illusions: American Cinema in the Shadow of Watergate and Vietnam, 1970-1979
258:
143:
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47:
464:– a company that reunited the brand name with the boat manufacturing division.
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Boats, hospital laundry bags, carpet fibers, insulation, and chemical products
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434:, it resulted in the increase of BHC's number of television stations to ten.
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285:, for $ 4 million on September 1, 1959. A Bing Crosby–led group sold
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In the late 1990s, BHC acquired two television stations, WHSW (now
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232:, which was founded in the late 19th century and became famous for
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458:– list of television stations owned by Chris-Craft's subsidiary
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321:. Old Crown was sold to its employees a short time later.
241:
366:. The company attempted in 1979 a hostile take over of
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Defunct manufacturing companies based in New York City
446:, resulting in a sale which closed on July 31, 2001.
456:
BHC Communications § Former television stations
821:
Vehicle manufacturing companies established in 1928
591:"A Brief History of Brewing in Fort Wayne, Indiana"
23:. For the current company established in 2000, see
690:"Everything Old Is New Again: The New Chris Craft"
745:"Fox Entertainment Group Inc. 2001 Annual Report"
696:. Force 12 Media, LLC. 2007-01-07. Archived from
324:In 1964, Chris-Craft launched the all-fiberglass
772:
342:, to hold its two existing television stations,
751:. Fox Entertainment Group. September 28, 2001.
654:Cook, David A. (2002). Harpole, Charles (ed.).
720:"News Corp's $ 3.7bn for American TV stations"
504:"Chris-Craft Industries, Inc. Company History"
252:
626:"BHC Communications, Inc. Companies History"
273:teamed up to purchase a television station,
826:Mass media companies disestablished in 2000
791:Manufacturing companies established in 1928
786:Conglomerate companies of the United States
836:2000 disestablishments in New York (state)
851:American companies disestablished in 2000
816:Manufacturing companies based in Michigan
811:Auto parts suppliers of the United States
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717:
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338:In 1977, Chris-Craft Industries formed
856:American companies established in 1928
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207:Chris-Craft Industrial Products, Inc.
846:Former News Corporation subsidiaries
653:
613:
541:. Ronald L. Dunevant. Archived from
532:
489:
13:
718:Wootliff, Benjamin (14 Aug 2000).
14:
872:
226:National Automotive Fibers, Inc.
39:National Automotive Fibers, Inc.
831:1928 establishments in Michigan
755:from the original on 2017-02-13
737:
636:from the original on 2006-05-05
514:from the original on 2006-10-26
213:Footnotes / references
806:Defunct sailboat manufacturers
711:
682:
647:
583:
567:. Seeing Stars. Archived from
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526:
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1:
841:2000 mergers and acquisitions
468:
335:, as Chris-Craft's chairman.
307:Old Crown Brewing Corporation
293:in 1960 to the corporation.
222:Chris-Craft Industries, Inc.
31:Chris-Craft Industries, Inc.
7:
449:
192:Roamer Steel Boats Division
178:$ 467.1 million (1998)
106:; 23 years ago
88:; 96 years ago
10:
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253:National Automotive Fibers
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796:Yacht building companies
203:BHC Communications, Inc.
462:Chris-Craft Corporation
444:Fox Television Stations
25:Chris-Craft Corporation
16:Former American company
801:American boat builders
781:Chris-Craft Industries
297:Chris-Craft Industries
326:Chris-Craft Commander
533:Dunevant, Ronald L.
240:and co-founding the
32:
595:IndianaBrewing.com
378:for 19 percent of
267:Studebaker-Packard
238:BHC Communications
156:New York, New York
30:
545:on 2 January 2011
380:United Television
333:Herbert J. Siegel
313:company based in
302:Chris-Craft Boats
230:Chris-Craft Boats
219:
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189:Chris-Craft Boats
21:Chris-Craft Boats
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597:. Archived from
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539:Yesterday's KPTV
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508:Funding Universe
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368:20th Century Fox
364:20th Century Fox
139:21st Century Fox
134:News Corporation
124:News Corporation
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144:Fox Corporation
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601:on 16 May 2011
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724:The Telegraph
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700:on 2010-01-27
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73:Manufacturing
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757:. Retrieved
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727:. Retrieved
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702:. Retrieved
698:the original
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638:. Retrieved
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603:. Retrieved
599:the original
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573:. Retrieved
569:the original
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547:. Retrieved
543:the original
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516:. Retrieved
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477:
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372:Marvin Davis
337:
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256:
244:TV network.
225:
221:
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212:
198:Subsidiaries
151:Headquarters
77:Broadcasting
44:Company type
694:Boat Digest
348:Los Angeles
287:Los Angeles
271:Bing Crosby
263:Ford Motors
224:, formerly
141:(2013–2019)
136:(2001–2013)
775:Categories
704:2009-07-20
640:2009-07-20
469:References
387:fiberglass
315:Fort Wayne
64:: CCN
676:492409499
416:Baltimore
405:Panasonic
393:in 1971.
376:Marc Rich
340:BHC, Inc.
184:Divisions
130:Successor
56:Traded as
753:Archived
729:21 March
634:Archived
605:23 March
575:23 March
549:23 March
518:21 March
512:Archived
450:See also
420:Maryland
356:Portland
279:Portland
234:mahogany
205:(79.96%)
167:Products
122:Sold to
69:Industry
36:Formerly
759:May 31,
432:Florida
428:Orlando
401:WWOR-TV
319:Indiana
311:brewery
291:KCOP-TV
248:History
175:Revenue
109: (
101:Defunct
91: (
83:Founded
674:
664:
422:, and
360:Oregon
283:Oregon
48:Public
749:EDGAR
483:"SEC"
414:) in
761:2013
731:2011
672:OCLC
662:ISBN
607:2011
577:2011
551:2011
520:2011
424:WRBW
412:WUTB
374:and
352:KPTV
350:and
344:KCOP
309:, a
275:KPTV
265:and
119:Fate
111:2001
104:2001
93:1928
86:1928
62:NYSE
426:in
354:in
346:in
277:in
242:UPN
161:USA
777::
747:.
722:.
692:.
670:.
632:.
628:.
615:^
593:.
537:.
510:.
506:.
491:^
430:,
418:,
382:.
358:,
317:,
289:'
281:,
261:,
159:,
763:.
733:.
707:.
678:.
643:.
609:.
579:.
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113:)
95:)
27:.
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